THE Buy Zimbabwe Company has applauded the positive strides being made by the Government, industry and local producers in strengthening Zimbabwe’s local content value chains.
In a statement, Buy Zimbabwe chairperson, Mr Munyaradzi Hwengwere, said the combined efforts of public and private sector players continue to accelerate industrialisation, drive job creation and foster greater economic self-reliance.
Following the official commissioning of Cut Rag Processors’ new tobacco processing plant in Harare on Wednesday, Buy Zimbabwe says this is a powerful testament to the country’s growing manufacturing capacity and the commitment of local industry to value-addition.
The milestone reflects the positive impact of deliberate local content policies and demonstrates how Zimbabwean enterprises are embracing innovation, investment and competitiveness to meet national and export market demands, it said.
“The growth we are witnessing in sectors such as tobacco processing and wheat production shows that Zimbabwe’s industrial revival is not theoretical, it is happening,” said Mr Hwengwere.
“Local content initiatives are working, and they deserve continued support.”
The local content strategy is a tool used in industrial policies to stimulate industrial activity and or employment creation.
Local content refers to the extent of use of local factors of production in goods and services consumed or utilised in the country.
Globally, local content policies started off in the extractive sector as a way to implement resource-based industrialisation.
Meanwhile, Buy Zimbabwe has also commended the Government’s sustained focus on self-sufficiency in agriculture.
The organisation said Statutory Instrument 87, which promotes local procurement of agricultural commodities, has strengthened domestic value chains and empowered farmers across the country.
Zimbabwe’s outstanding success in wheat production, achieving full self-sufficiency and surpluses for consecutive seasons, is a clear indicator of what co-ordinated national effort and smart policy can achieve.
This progress aligns squarely with Buy Zimbabwe’s long-standing call for increased reliance on its own productive capabilities.
Buy Zimbabwe has acknowledged the Government’s unwavering leadership in prioritising domestic value chains through the Local Content Strategy.
The organisation works closely with ministries, regulators, producers and the private sector to deepen local participation in procurement, manufacturing, mining, agriculture and services.
“Every investment in local production is an investment in national prosperity. By choosing Zimbabwean products and supporting domestic industries, we build a stronger economy, create more jobs and safeguard our national pride,” said Mr Hwengwere.
“Buy Zimbabwe remains committed to championing policies, partnerships and programmes that elevate local enterprise and strengthen Zimbabwe’s march towards a resilient, innovative and self-sustaining economy.”
Experts have argued that by adding value to raw materials through local processing and manufacturing, our local industry can capture a larger share of economic benefits, create more employment opportunities and foster technological learning and innovation.-herald
