New industrial policy on cards

Government intends to craft a new industrial policy to guide development of the sector, which will include reviving ailing enterprises, a Cabinet minister said on Tuesday.

The current policy, the Zimbabwe National Industrial Development Policy, expires in December, and will be replaced by the new one.

Industry and Commerce Minister, Sithembiso Nyoni, told captains of industry that a policy framework for the development of the country’s industrial sector was critical.

Among other things, this guides support programmes, government incentives, and provides working frameworks for the public and private sectors.

It also deals with issues of competitiveness and sustainability.

Nyoni said gains achieved so far should be consolidated, whilst coming up with strategies and initiatives that foster industrial development and contribute to the achievement of sustainable and inclusive growth.

“It is crucial to acknowledge that our industrial policy, the Zimbabwe National Industrial Development Policy, is coming to an end in December and your collaboration in the development and implementation of the successor policy is very critical,” she said.

“This policy is anchored on Vision 2030 and the National Development Strategy (NDS1, 2021-2025). It focuses on implementing policies that foster high, inclusive, broad based and sustainable economic growth, as well as socio economic transformation and development,” she added.

Nyoni said it was important for government and the private sector to share ideas on the crafting of the successor industrial development policy, and its subsequent implementation.

“Your contributions to these policy initiatives are thus invaluable.

Zimbabwe is richly endowed with fertile farmlands and mineral resources.

Our sectoral development strategies are, therefore, crafted to promote value addition and beneficiation of agricultural produce and minerals, creating higher value products and increasing export earnings,” she said.

“This can only be achieved through the provision of an enabling policy and regulatory framework. I firmly believe that together, we can create an environment that nurtures innovation, fosters growth, and facilitates the success of our businesses.”

Nyoni said her Ministry will promote linkages with other sectors of the economy, as part of the implementation matrix of the policy.

She encouraged the business community to embrace digital technologies and adopt digital innovation to enhance productivity, efficiency, and competitiveness in both industry and commerce.

“Industry 4.0 is upon us. Government will always support the private sector in their retooling and upgrading of plants and machinery,” she said.

“My Ministry in collaboration with other relevant arms of Government such as Zim Trade, will continue making initiatives to promote export-oriented industries and diversify export markets, including trade agreements, market access facilitation, and export promotion programmes.”

NewZiana