HARARE – Government has approved a concept design for a new city to be located in north of Harare which is set to cover 18 000 hectares of institutional, residential and commercial structures.
Minister of Local Government, Public Works and National Housing July Moyo speaking at the ZimReal Property Investment Forum yesterday said there was need to decongest the City of Harare and several efforts are being made to address the issue.
“We have developed and Government has approved a new city concept design. The new city will be North of Harare covering over 18 000 hectares of institutional, residential, commercial and high technology incubators that will also compliment research institutions of the Defence University and UZ.
“There is need to issue bonds to revamp infrastructure of sewerage and water reticulation as well as bulk water supplies and equipment. This is an absolute necessity for a Zimbabwe that is open for business. We are working on revamping the urban transport systems in our cities, municipalities and towns and country sides,” said Minister Moyo.
He said Government is calling on equity participation as well as engaging in prescribed assets investment.
Since the dawn of the new dispensation, President Mnangagwa has consistently reverberated the message that he would not only want to see Zimbabwe catch up in global economic involvement, technological and infrastructural development.
“The country has witnessed the emergence of inflationary pressures driven by the high parallel market premiums which range from 30 percent to 60 percent and an increase in money supply.
“The new Government has committed itself to implement structural reforms to strengthen key social, economic and political institutions.”
Minister Moyo said critical economic institutional reforms will focus on strengthening property rights, reforming the ease of doing business environment, reforming state owned enterprises and parastatals, fiscal policy and monetary policy reforms to ensure transparency, independence and credibility in macro-economic policy management.