The Government has reaffirmed its commitment to fostering a more inclusive and competitive economic landscape, emphasizing the urgent need to integrate the informal sector into the mainstream economy.
Public Service, Labour, and Social Welfare Deputy Minister Mercy Dinha made the remarks during the Business Environment Dialogue organized by the Tripartite Negotiating Forum (TNF) economic cluster in Harare on Tuesday.
“The business environment is the most important aspect of any enterprise.It is shaped by various forces, including suppliers, competitors, government policies, and economic conditions. A holistic approach is crucial in addressing challenges and identifying sustainable solutions,”she said.
The dialogue, attended by key stakeholders from various sectors, provided a platform to assess economic challenges and propose policy recommendations.
Dinha also announced that the government has recently implemented measures to formalize the informal sector.
“Cabinet recently introduced several measures to align the formal and informal sectors.These include the mandatory use of electronic money for all businesses and the introduction of a compulsory tax payment system to enhance compliance with tax laws,” she said
Additionally, the government is working to streamline regulatory processes by reducing duplication of work among regulatory agencies.
Officials say this will help cut turnaround times and lower the cost of doing business.
The African Continental Free Trade Area (AfCFTA) was another key discussion point at the meeting, with speakers highlighting its potential to boost regional trade and economic resilience.
“The full implementation of AfCFTA will help African countries increase their resilience to economic shocks and drive the deep reforms necessary for long-term growth,” Dinha said.
Stakeholders at the dialogue welcomed the government’s efforts but urged increased engagement with small business owners to ensure that policies are practical and inclusive.
Established under the TNF Act of 2019, the TNF plays a crucial role in addressing socio-economic issues through dialogue between the government, business, and labor representatives.
As Zimbabwe strives for a more competitive economy, the focus remains on creating an environment where both formal and informal businesses can thrive while contributing to national development.
