The 5th Zimbabwe Economic Development Conference got underway in Bulawayo with infrastructure taking centre stage in discussions about the country’s economic future.

Opening the conference, Finance, Economic Development and Investment Promotion Minister Prof Mthuli Ncube said Zimbabwe needs to turn discussions into policies, investment and projects that can support Vision 2030.

The conference was being held under the theme “Smart Infrastructure for an Upper Middle-Income Society.”

Professor Ncube said Zimbabwe needs reliable infrastructure to support businesses, attract investment and improve the movement of goods and people.

He pointed to Zimbabwe’s position as a land-linked country, saying better roads, railways, border facilities and transport routes could strengthen the country’s links with markets in SADC, COMESA and across Africa through the African Continental Free Trade Area (AfCFTA).

Professor Ncube identified energy, digital connectivity, transport and rail, water infrastructure, and urban development as key areas requiring investment. He also said government alone cannot carry the cost of the infrastructure Zimbabwe needs.

The minister called for more private sector investment and greater use of financial markets, including municipal infrastructure bonds, institutional funding and green energy funds.

Several institutions also took part in the discussions. ZIMRA Commissioner General Regina Chinamasa shared her views at the conference, while Securities and Exchange Commission of Zimbabwe Acting Chief Executive Officer Tichaona Mushambadope spoke on “Smart Capital Markets for Smart Infrastructure.”

Mr Mushambadope outlined different ways the capital market could help fund infrastructure, including infrastructure, municipal and green bonds, Real Estate Investment Trusts (REITs) and ZEEX.