MUTARE: The country’s competitiveness on the global market has been affected by low uptake of new technology, an expert has said.
National Economic Competitiveness Forum representative and University of Zimbabwe Business Studies department lecturer, Nyasha Kaseke, said the country was lacking in terms of innovation and efficiency indicators.
He, however, said Zimbabwe can copy from countries such as Rwanda and Mauritius whom have made notable progress even though they have fewer resources as compared to Zimbabwe.
Kaseke said these two countries have managed to leverage on the tourism industry to boost their economy which is relevant to Zimbabwe.
“These two countries have managed to leverage on tourism industry to boost their economies something relevant with Zimbabwe,” said Kaseke while recently addressing stakeholders meeting in the eastern border city.
He also cited innovation by China which he said must be adopted by countries such as Zimbabwe.
“China uses the copying innovation method and improve to make something better,” said Kaseke.
He said Zimbabwe is perceived to have inefficiencies in the goods, labour and financial market.
Said Kaseke: “The low uptake of new technology which has been caused by lack of investment in the area in recent years has compromised the country`s competitiveness.”
He said despite some challenges that have been be-devilling Zimbabwe’s productivity and competitiveness, the country has potential to improve its status given its natural resources and skilled workforce.
“The poor ranking in the World Economic Forum GCI report is mainly due to a decade of economic meltdown which has impacted negatively on the country`s business operating environment,” said Kaseke.
According to World Economic Forum GCI report 2014-2015, Zimbabwe is number 124-131 countries.
Zambia has experienced an improvement over the last couple of years and has moved from position 112 to 96.
“Although the competitiveness has been low, the country managed to improve in the macroeconomic environment and good ranking for human resources,” said Kaseke.Advertisement