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Closure of foreign companies cleared way for local controlled economy

by Staff reporter
02 Aug 2021 at 07:30hrs | Views
THE closures of foreign-owned companies in Zimbabwe and relocating to neighbouring countries have produced positive growth in Zimbabwe as the country has managed to create its own local controlled economy.

This was said by Defence Minister Oppah Muchinguri last Thursday while addressing students at the Zimbabwe National Defence University.

She said although sanctions imposed by the West against Zimbabwe had resulted in high unemployment and shortages of basic commodities, the government had "successfully withstood the pressure".

"Sanctions had led to high unemployment rates and shortages of basic commodities. Such negativities also culminated in increasing opposition forces against the government, which, however, successfully withstood the pressure," said Muchinguri.

"Although the move by foreign companies to relocate their businesses to neighbouring countries negatively impacted on the government's ability to govern effectively, it also had a positive effect of enlightening the government on the need to have a locally controlled economy as opposed to a foreign-controlled one."

The majority of Zimbabweans have turned to informal trading as industries in the country have closed down following a chaotic land reform programme at the turn of the century.

However, Muchinguri said her government was aware that the West continued with its regime agenda by imposing illegal sanctions against Zimbabwe.

"The West has done this through sinister activities that including funding opposition parties and non-governmental organisations, pursuing opposition agendas, the unilateral imposition of illegal economic sanctions on Zimbabwe and attempts to influence the outcome of elections.

"Regime change machinations continue to be witnessed up to this day with events from the opposition front testify to their connivance with the West, particularly those that imposed illegal sanctions on Zimbabwe."

Source - newzimbabwe

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