New policy to rev up industry

New policy to rev up industry
Published: 26 June 2018
ZIMBABWE is set to unveil a National Industrialisation Policy which is expected to strengthen all sectors of the economy, a diplomatic official has said.

The policy will run from 2018 to 2022 and is a successor to the country's industrialisation strategy which ended in 2016.

Speaking at the just-ended 3rd Common Market for Eastern and Southern Africa Diplomatic Conference on Competition and Trade in Livingstone, Zambia, counsellor at the Zimbabwean Embassy in Zambia Marshall Mututu said the Industrialisation Policy 2018-2022 would be centred on developing and facilitating industrial linkages across all sectors of the economy.

"Zimbabwe will soon unveil its new industrial strategy which seeks to strengthen all sectors of the economy. The Industrialisation policy 2018 to 2022 will be premised on various sectors of the economy, agriculture, mining, manufacturing and services sector to improve and harness the country's competitiveness," Mututu said.

He said at institutional level the policy seeks to strengthen existing institutions such as scientific industrial research development centres and the standards association, among many others.

"The new Industrialisation Policy will make a lot of difference, we have entered a new dispensation and Zimbabwe is ready for business. We have a lot of goodwill coming from the international community, investments are coming and our industries have started picking up," he said.

Mututu, however, said some of the milestones achieved include the launch of the Zimbabwe Motor Industry Development Policy which is expected to ramp up production capacity in the vehicles services sector from 10% to 100% in capacity utilisation and the commissioning of the $12 million steel reinforcement bars plant which is expected to create employment in the country.

He added that the structural challenges that inhibit industrialisation includes erratic supply of power, inefficient road and railway system and clogged supply chain logistics at border posts.

"The outlook for Zimbabwe is bright. With the new transition, Zimbabwe is ready for business we have seen a lot of industries ramp up production and some of these developments include the re-opening of Sable Chemicals, the commissioning of the steel reinforcement bar plant and increased capacity utilisation in the textile industry," Mututu said.
- newsday
Tags: Industry,


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