Government, private sector collabo drives production, exports
THE growing collaboration between the Government and the private sector has rejuvenated investment appetite in Zimbabwe resulting in higher production and exports, Industry and Commerce Minister, Dr Sekai Nzenza, has said.
In her welcome remarks before the official opening of the 63rd Edition of the Zimbabwe International Trade Fair (ZITF) by King Mswati III of Eswatini in Bulawayo on Friday, Dr Nzenza said President Mnangagwa’s comprehensive doing business reform drive was impacting positively on all sectors of the economy.
She said the massive participation at this year’s ZITF, which ended on Saturday under the theme: “Transformative Innovation, Global Competitiveness” presented a unique opportunity for local and foreign investors to increase trade with each other.
Minister Nzenza said the growth of the domestic industry was more inspiring and well expressed in the large numbers of local businesses that exhibited at this year’s expo.
“The dividend declared from the convergence in the mutual aspirations of the Government and the private sector is the increase in investment, exports, production and increased capacity utilisation.
CONFEDERATION of Zimbabwe Industries (CZI)
According to the recent CZI Manufacturing Sector Survey, we were informed that at least US$$101 million was invested into the country in 2022 alone.
Resultantly, capacity utilisation has increased from 56 percent in 2021 to about 63 percent. Shelf occupancy of our locally manufactured goods has increased to about 80 percent,” she said.
More than 500 direct exhibitors participated at this year’s trade expo, which is almost 30 percent higher than last year while more entities demanded bigger spaces.
In response to growing industry demand for marketing space at the expo, Minister Nzenza said the ZITF Company had to be innovative in its space management to accommodate new international, regional and local investors.
AfCFTA
“In the discourse, which has ensued during this ZITF, including Connect Africa and the International Business Conference, what has emerged is that the productive sector continues to benefit from His Excellency’s call for a private sector-led growth,” said Dr Nzenza.
Topical at this year’s edition has also been the emergence of the African Continental Free Trade Area (AfCFTA) and how Zimbabwe is defining itself as an investment opportunity.
Dr Nzenza said the rejuvenated industrial activity is positioning Zimbabwe for strong regional and international trade through innovation and competitiveness.
Sustainable Development Goals (SDGs)
Such a drive dovetails with the Government’s Vision 2030 of creating an upper middle-income economy, which is aligned to ongoing discourse internationally as espoused in the United Nations sustainable development goals (SDGs).
“We have been challenged not only as Zimbabwe but as a continent to leverage our increasing interconnectedness and interdependence into intra-Africa trade focusing on changing our local markets and consumption culture,” said Dr Nzenza.-chronicl.oc.zw
