Home » Education » ZIMBABWE’S PRIVATE SECTOR URGED TO SUPPORT INFRASTRUCTURE DEVELOPMENT TO ATTRACT MORE INVESTMENTS

HARARE-- The private sector in Zimbabwe should support government efforts to turn the country into a middle income economy by 2030 through investing in infrastructure to enable the country to lure more investors, says the Zimbabwe International Trade Fair (ZITF) company chairperson, Ruth Ncube.

The private sector should consider investing in infrastructure so that the country could lure more foreign investors, she said here Thursday. Given the inability of the government to directly finance infrastructure, the estimates I have alluded to imply that private spending on infrastructure would need to at least double to overcome the infrastructure investment gap," she added.

A new radical infrastructure transformation agenda has been eluding us, and for far too long, we became content in, what some would say, normalizing the abnormality. We developed this false sense of contentment with our decayed infrastructure that truly needs re-tooling, re-kitting, retrofitting, revamping and complete overhauling so that we become competitive and at par with other economies."

Dr Ncube said Zimbabwe required about 14.2 billion US dollars at 2009 prices, including 4.6 billion USD in private investment, to upgrade existing infrastructure and add new capacity. So what an opportunity you have. Opportunities beckon in this

country, she said.

She said roads, rail and aviation infrastructure collectively required an investment of about 5.6 billion USD. Power development required slightly more than 2.0 billion USD, while the telecommunications sector required about 200 million USD in upgrades and another 200 million USD in information communication technology (ICT).

Source: NAM NEWS NETWORK

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