The Sunday News
THE Government has discontinued the Industry Development Policy 2011-15 that sought to revive the manufacturing sector and is seeking to pursue its objectives through the Zimbabwe Agenda for Sustainable Socio-Economic Transformation (Zim Asset), a Cabinet Minister has said.
Industry and Commerce Minister Mike Bimha said the Industrial Development Policy, which was supposed to expire next year had been “swallowed” by the country’s new blue print, Zim-Asset which is also meant to ensure increased productivity in the manufacturing sector.
“Much of what is there (in the IDP 2011-15) you also find it in Zim-Asset. The IDP was anchored on improving productivity and value addition only and this is one of the clusters in the Zim-Asset.
“The IDP was not entirely a Government initiative but it was more in consultation with the private sector who contributed much of the input into the document while Zim-Asset was crafted and is being fully driven by Government,” Minister Bimha said.
IDP 2011-15 came to effect after replacing the IDP 2006-10 which had expired.
Minister Bimha said the success of the IDP 2011-15 in the resuscitation of the industry would only be measured under Zim-Asset.
IDP’s main objectives were to create additional employment in the manufacturing sector and reduce unemployment levels from around 80 to 30 percent by 2015.
It was also aimed at increasing capacity utilisation from the existing levels of around 43 to 80 percent by the end of the planning period.
It was also supposed to enable the re-equipping and replacing of obsolete machinery for new technologies for import substitution and enhanced value addition.
The policy was also expected to create a platform aimed at increasing the manufactured exports to the Southern Africa Development Community and Common Market for Eastern and Southern Africa regions and the rest of the world.
Lastly it was meant to promote utilisation of available local raw materials in the production of goods.
Captains of industry expressed optimism that Zim-Asset would stimulate the revival of the country’s industry.
“There was a Trust which was created in the Zim-Asset which is set to benefit the industrialisation of the country. This therefore means that every industrial policy that was implemented in the past before the Zim-Asset policy gets to benefit from this Trust.
“Although some policies have been undermined in the Zim-Asset policy, averagely all the objectives related to the industrial sector are met making it a win-win situation,” said the Zimbabwe National Chamber of Commerce president, Mr Hlanganiso Matangaidze.
Confederation of Zimbabwe Industries president Mr Charles Msipa said there was a need to constantly review policies as a way of keeping their effectiveness towards the resuscitation of industry under scrutiny.
“So much has happened since the IDP was implemented in 2011 therefore the policy needed a review considering that it has been close to four years since its implementation.
“When it was implemented the capacity utilisation percentage of the industries in the country was at 58 percent and it is currently at 36 percent hence the Zim-Asset is a necessary facelift to the policy,” Mr Msipa said.
