ALL is set for the 50th edition of the Zimbabwe International Trade Fair that opens tomorrow with both international and regional companies expected to exhibit.

The Trade Fair will be officially opened by Zambian President Rupiah Banda on April 30.

Addressing the stakeholders meeting Minister Misihairabwi-Mushonga said Zambia was elated by the decision to invite President Banda.

“The Zambian President, Honourable Rupiah Banda will be our official guest of honour at this year’s international exhibition,” she said.

She urged stakeholders to tap into the positive atmosphere that has been generated by the all-inclusive Government and has seen a number of positive developments accruing.

This year’s exhibition will run from tomorrow to May 2 and is being held under the theme, “Golden opportunity for dynamic takeoff”.

ZITF is the largest regional trade fair south of the Sahara and offers exposure to both trade and public visitors.

The multi-sectoral fair also provides the largest, most convenient trade venue in the region

Prime Minister Morgan Tsvangirai is expected to officially open the annual international business conference that runs concurrently with ZITF.

The conference, organised by the ZITF Company and the National Economic Consultative Forum will be held under the theme “Facilitating Business as the Engine of Growth in the Reconstruction of the Zimbabwean Economy”.

“In light of recent developments in the political and economic spheres, this year’s conference will focus on the following objectives: the future Economic Road Map for Zimbabwe, the reconstruction of the economy and integration into the international arena, confidence and image building and Integration into the International Arena,” a ZITF official said.

Finance Minister Tendai Biti is set to address the business conference on the topic “The Zimbabwean Economic outlook: Achieving Stability in a recovering economy.”

A number of African countries that include Zambia, Namibia, Kenya, Malawi, South Africa, Mozambique and Tanzania have already confirmed participation.

The Zimbabwe Electricity Supply Authority has given assurance that the Zimbabwe International Trade Fair and its surroundings would not be affected by load shedding during the days of the exhibition to ensure the smooth running of the event. Yesterday a number of companies were putting final touches to their exhibition stands in readiness for the kick off.

Government has so far released K440.8 Billion for capital expenditure towards infrastructure development and rehabilitation programmes approved by Parliament as part of the 2009 budget.

The release of K440.8 Billion represents 24.7% percent release out of the K1. 781 trillion total capital expenditure budget planned for 2009.

According to Finance and National Planning ministry spokesperson Chileshe Kandeta, in a statement today, said the release of 24.7% of infrastructure funds for 2009 is consistent with his ministry’s fiscal policy focus for 2009 geared towards increasing expenditure on infrastructure and social services.

He said it is also in line with the Government’s objectives of encouraging diversification and enhancing competitiveness.

Mr Kandeta has urged members of the public to take greater interest in Government financed public works and projects being implemented in their localities to ensure that tax-payers resources are applied for intended purposes.

” In this way, we will then be participating in the development of the country and ensuring that optimum socio-economic benefits of these public works and projects accrue to the people of Zambia and the communities in which the infrastructure rehabilitation and development programmes are being implemented,” he says in the release.

And break down the funds, the Ministry of Works and Supply has received K165.2 Billion being proceeds from fuel levy for use towards road maintenance activities by the Road Development Agency.[quote]

Mr Kandeta said K6 Billion has also been released for construction of new office blocks in Lusaka and Chongwe and an additional K6 Billion for boarder facilities at Katima-Mulilo Bridge.

” K 2 Billion is for construction of houses and K4 Billion for other boarder infrastructure while K 7.6 Billion has been released for the Chirundu Boarder Infrastructure towards completion of works related to the flight terminal, the passenger control building, the sewerage disposal system, installation of street lighting and construction of the drug enforcement dog kernels all of which are being executed in line with the FNDP goal of having well developed and properly maintained quality infrastructure for sustainable national development by 2030,” he said.

He further explains that The Ministry of Works and Supply has also received K 10 Billion for construction of housing units for the Zambia Army, Zambia National Service in Makeni and the Zambia Air Force at Twin Palm in Lusaka while the Central Statistical Office (CSO) has received K2 Billion to speed up completion of its office block along Nationalist road in Lusaka.

K29.3 Billion on the other hand has been released for the construction and procurement of housing units and, construction of a forensic laboratory and hospital infrastructure under the Ministry of Home Affairs.

Among other resources released to the same Ministry is K 2.3 Billion for prisons infrastructure development at Mwembeshi, Livingstone, Luwingu, and Kalabo. In addition, K2.7 Billion has been released for construction of immigration headquarters offices and boarder control posts at Kamapanda, Kilwa Island, Kambimbi, Namafulo, Sindamisale, Kanyala and Imusho.

Mr Kandeta says in the same statement that K2 Billion has been released for the rural electrification fund under the Ministry of Energy and Water Development of which K300 Million is for the Nansanga Farm Block and K1.7 Billion for the Kasaba Bay Electrification Project.

For the Ministry of Local Government and Housing, K 2.9 Billion has been released for water supply and sanitation and K1.78 Billion for construction of low cost houses.

On the other hand, the Ministry of Education has received K 18 Billion for construction of High Schools, K23.4 Billion for construction of Basic Schools, K4 Billion for infrastructure development at the Mulungushi University, K2 Billion infrastructure development at the University of Zambia and K1 Billion for infrastructure development at the Copperbelt University whereas among other resources.

Mr Kandeta said the Ministry of Science Technology and Vocational Training has received K1.75 Billion for rehabilitation of the Choma Trades Training Institute and K1.5 Billion for construction of Ukwimi Trades Training Institute.

On the part of the Ministry of Agriculture and Cooperatives, K1.6 Billion has been allocated for the Bangweulu Research Station, K 1 Billion for rehabilitation of camp and block houses, among other things, in Mpongwe District.

Finance and National Planning Minister Hon. Situmbeko Musokotwane has urged the International Finance Corporation (IFC)to partner with the Zambian government to develop Kasaba Bay into a major tourism attraction.

Dr. Musokotwane said Kasaba Bay can be developed into a major tourism attraction that can contribute to the sustainable economic growth of its people.

He said Kasaba Bay could easily turn into an international destination with appropriate infrastructure such as an airport, roads, power, accommodation, shopping facilities, electricity, water and telecommunication .

He added that Kasaba Bay could be very central to attract International Conferences and Meetings to its clients compared to other places in Southern and East Africa.

The minister said this at a meeting this afternoon with the IFC Vice President and Africa Management Team , Mr. Thiery Tanoh in Washington DC.

And Mr Tanoh said the IFC will send an expert from its Johannesburgh office before the end of May to assess whether Kasaba Bay can attract private sector involvement.

He agreed with Dr Musokotwane’s explanation that Kasaba Bay was indeed an important project to embark on.He also stated that IFC had mobilized funds for investment in sectors such as mining and telecommunications infrastructure.[quote]

Special Assistant to the President for Economic Development, Dr. Richard Chembe, Budget and Economic Affairs Permanent Secretary, Emmanuel Ngulube attended the meeting.

Also in attendance were,Director (Financial Markets)at Bank of Zambia (BOZ) Peter Banda and Ambassador of Zambia to the United States of America, Dr. Inonge Mbikusita Lewanika.

This is contained in a release to ZANIS signed by Assistant Secretary for Press at the Zambian Embassy in the U.S.A , Ben Kangwa.
ZANIS/MM/ENDS/MM