Govt to clear doing business hurdles
GOVERNMENT, through the Ministry of Industry and Commerce, is working with the private sector to expedite ease of doing business reforms in order to increase manufacturing sector productivity, a Cabinet minister said.
Industry and Commerce Minister, Dr Sekai Nzenza, revealed this in her speech while officially opening the ongoing Confederation of Zimbabwe Industries (CZI) Congress 2021 in Harare yesterday.
This year’s congress is running under the theme “Upper Middle-Income Industry for an Upper Middle-Income Economy”.
The convention seeks to have an alignment and consensus on business and policy imperatives critical to achieve industrial and economic transformation as well as growth of the economy.
The gathering also intends to facilitate convergence of thoughts, through focused discussions, with the country’s policy makers in order to frame the industry agenda around the national development frameworks and targets.
While addressing delegates attending the event, Minister Nzenza said capacity utilisation in the manufacturing industry had significantly improved due to collaboration between the Government and the private sector.
According to Minister Nzenza the manufacturing sector capacity utilisation increased to 47 percent in 2020 from 36,4 percent in 2019 and is projected to increase to 61 percent by end of 2021.
“The ministry is supporting local production to satisfy domestic demand at competitive prices in line with the local content strategy,” she said.
“In that regard, the foreign currency auction system is prioritising the reindustrialisation drive with the private sector now accessing funds to import raw materials and equipment.”
Weighing in on Minister Nzenza’s sentiments CZI president, Mr Kurai Matsheza, said Zimbabwe should do more to regain its production hub status through increased production efficiencies.
It is expected this will also enhance the country’s competitiveness in terms of manufacturing in the region and continent whilst increasing its attractiveness for all types of investments.
“Zimbabwe should implement a radical competitiveness agenda that will build a competitive private sector that will maximise linkages, deliver high quality jobs and support long term growth.
“There should be three phases of industrialisation towards 2030. This phased approach will be aimed at addressing key binding constraints and opportunities in the short, medium and long term to achieve industrial competitiveness,” he said.
“The three phases are balanced orientation to competitiveness, industrial upgrading or transformation and industrial excellence whose focus on specialisation in lucrative skills.”
Under the five year programme, National Development Strategy (NDS 1), the Government is promoting value chains, including pharmaceuticals, leather cotton to clothing, dairy and fertiliser production many among others.
Government wants industry to achieve high, accelerated, inclusive and sustainable economic growth as well as socio-economic transformation and development. The meeting seeks to attain consensus on the policy and business necessities to achieve the vision for industry to realise the transformation that will deliver a notable economic
performance, which will in turn make the vision 2030.
According to CZI, the congress intends to provide high quality business content in the form of insights and analysis on topical issues that will propel the Zimbabwean industry.-The Chronicle
