eBusiness Weekly
Michael Tome
Successful implementation of the 2024 – 2030 Zimbabwe Industrial Development Policy will depend on maximum co-operation of all stakeholders including, labour, private sector players and the Government, stakeholders have said.
This was revealed at a stakeholder validation workshop on the draft Zimbabwe Industrial Development Policy for the above-mentioned five-year period.
National Industrial Development Policy is the principal policy that drives the industrialisation agenda of a country.
The 2024 – 2030 policy will succeed currently-running industrial blueprint, which was operationalised in 2019 and reigning up to December 2023.
According to Ministry of Industry and Commerce, the local industry witnessed a 56,1 percent increase in capacity utilisation in 2022 from 47 percent in 2020.
On the flipside, shelf-space occupancy of locally-produced products also grew to over 80 percent last year from 55 percent in 2021.
Exports of manufactured products surged to US$366 million last year from US$324 million in 2021, translating to a 12, 9 percent improvement.
The 2024-2030 policy intends to facilitate growth, productivity improvement, transformation and competitiveness through accelerating investment in Zimbabwe’s industrial sector.
It aims to attain a manufacturing sector growth rate of at least two percent per annum, to grow manufacturing sector investment by three percent per annum and to increase manufactured exports by 10 percent per annum.
The policy is earmarked to increase the share of manufacturing value added (MVA) in GDP to 20 percent by 2030, while growing share of manufacturing employment total to 20 percent by the same year.
This draft policy is informed by Vision 2030, the National Development Strategy 1 (NDS1), as well as regional and international policies on industrialisation.
Addressing delegates at the workshop, Industry and Commerce Secretary, Dr Mavis Sibanda said the growth trajectory witnessed lately in the local industry signifies the resilience and determination to optimize operations and contribute more effectively to the national economy.
“The Zimbabwe National Industrial Development Policy (2019- 2023) made considerable strides in strengthening the industrial sector, addressing key challenges, and leveraging emerging opportunities.
“It served as an effective guide for policy formulation, implementation, and evaluation, allowing us to enhance manufacturing activities, stimulate investment, and foster economic diversification.
“The achievements realised during this period are a testament to the collective efforts of the private sector, Government, and other key stakeholders,” said Dr Sibanda.
According to Dr Sibanda the draft Zimbabwe National Industrial Development Policy (2024-2030) will also foster innovation and promote strong linkages with the tertiary institutions to enhance private sector – academia collaboration.
The UN Resident and Humanitarian Coordinator for Zimbabwe, His Excellency Edward Kallon indicated that the policy was a timely and important document which will provide a roadmap for the development and growth of Zimbabwe’s industrial sector.
“Allow me to applaud the Zimbabwean Government for having taken this timely initiative to review the implementation of the national industrial policy as well as develop a successor policy informed by experiences during the last five years as well as by regional and international developments.
“It is also a key component of the country’s NDS 1, which aims to transform Zimbabwe into an upper-middle-income country by 2030.
“In particular, ZNIDP is anchored on the national priority of ‘Moving the Economy up the Value Chain and Structural Transformation’ and related economic growth and competitiveness pillars to include those which relate to Agriculture, Trade, Climate Change and Digital Economy agendas,” said Kallon.
Kallon and the United Nations Economic Commission for Africa (UNECA), sub regional office for Southern Africa came on the invite of Zimbabwean Government in response to a request for technical support towards developing a new local industrial policy.
