eBusiness Weekly
Michael Tome /Sandra Maziwisa
MINISTER of Industry and Commerce, Dr Sekai Nzenza says her ministry is working with the private sector to ensure improved ease of doing business in order to increase manufacturing sector productivity in the country.
Minister Nzenza revealed this at the official opening of the ongoing Confederation of Zimbabwe Industry (CZI) congress 2021, which 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 aimed at achieving industrial and economic transformation and growth in the country.
The meeting also intends to converge with policymakers and frame the industry agenda around the national development frameworks and targets.
While addressing delegates attending the event Minister Nzenza indicated that capacity utilisation in the manufacturing industry has significantly improved due to collaboration between 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.
“…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,” said Minister Nzenza.
Weighing in on Minister Nzenza’s sentiments CZI president Kurai Matsheza highlighted that Zimbabwe should do more to regain its production hub status by becoming an efficient and competitive place of production and 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 maximize linkages, deliver high-quality jobs and support long-term growth.
“There should be three phases of industrialization 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.
“The three phases are balanced orientation to competitiveness, industrial upgrading or transformation, and industrial excellence whose focus on specialisation is in lucrative skills,” said Mr Matsheza.
Under the National Development Strategy 1(NDS) government is promoting a number of value chains including pharmaceutical, leather cotton to clothing, dairy and fertiliser production among others to achieve high, accelerated, inclusive and sustainable economic growth as well as socio 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.
Weighing on the deliberations of the day, Christine Blackstrom, from the International Council of Swedish Industry said cooperation between countries, academia and industry is a key requisite for industrial success.
“Collaboration is a prerequisite to transforming the industry as you get to share experiences and come up with solutions to current problems and scenario planning for future possible problems,” she said.
