New policy to guide industrial development

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

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

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

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

It also deals with issues of competitiveness and sustainability.

Dr 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.

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

The minister pledged that during her tenure, she would strive to provide an enabling policy and regulatory framework that would enhance the ease of doing business.

“Your contributions to these policy initiatives are thus invaluable.

“Zimbabwe is richly endowed with fertile farmlands and mineral resources.

ZimTrade

“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.”

Dr 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 ZimTrade, will continue making initiatives to promote export-oriented industries and diversify export markets, including trade agreements, market access facilitation, and export promotion programmes.”

During the engagement, Zimbabwe National Chamber of Commerce (ZNCC) president, Mr Mike Kamungeremu said businesses feel that smooth transmission of information between the Ministry and private sector will assist in keeping them within the loop and fully aware of any vital issues and changes by the Government.

Zimbabwe National Chamber of Commerce

“Communication is key in fostering a productive relationship between the business community and government,” said Mr Kamungeremu.

Retailers Association of Zimbabwe (RAZ) representative Mr Themba Ndebele urged the Government to restore duty on some basic commodities to protect local companies from competition from imported products.

“Zimbabwe has the largest informal retail and distribution sector and that is not sustainable. What we have now is a lot of imported manufactured products (coming into the country) without paying duty,” said Mr Ndebele.

Meanwhile, Dr Nyoni is expected to engage Bulawayo industry players today in the city. —NewZiana/The Herald