Zimbabwe seeing increased production of locally made goods: Minister Zenza

27 Apr, 2022 - 20:04 0 Views
Zimbabwe seeing increased production of locally made goods: Minister Zenza Minister of Industry and Commerce, Dr Sekai Nzenza

The Sunday News

Judith Phiri, Business Reporter 

Government has commended efforts by local companies that has seen an increase in the availability of locally produced goods through investing in efficient manufacturing systems.

This was revealed by the Minister of Industry and Commerce, Dr Sekai Nzenza, in a speech during the 2022 International Business Conference (IBC) in Bulawayo on Wednesday which was officially opened by the Vice President, Dr Constantino Chiwenga, running on the sidelines of the ongoing ZITF expo, and shares the same theme as the 62nd edition of the country’s prime showcase, which is: ‘Re-think, Re-imagine, Re-invent Value Chains for Economic Development’.

VICE President Dr Constantino Chiwenga

Dr Nzenza said: “As a country we have seen increase in capacity utilisation in the past 18 months despite the Covid-19 pandemic. What we are seeing is the increase of locally produced goods on our supermarket’s shelves.

“When you go around the ZITF stands you will be able to see that some of the commodities that are used by consumers are locally made.

There was low level of 30 percent capacity utilisation before Covid 19 and today we can say we are above 60 percent.”

She said the importance of structural transformation was being observed as businesses move up the value chain.

The Minister said there was already an ongoing dialogue between Government and private sector and the ZITF was testimony to the collaboration.

“Also, the input that Government is also able to get when we look at how we can move up this value chain from such events is important.

President Mnangagwa has spoken repeatedly of a private sector led growth where business can grow and thrive, the role of Government is to create that enabling environment where business can continue to produce and create jobs using the latest technology and innovation available.”

ZITF company board chairperson, Mr Busisa Moyo

ZITF company board chairperson, Mr Busisa Moyo spoke on the need for inclusive transformation of the economy.“We are here to promote green shoots of our economy where capacity utilisation is now hovering around 60 percent with local products now dominating the markets, while at the same time dealing with the red flag issues of multiple exchange rates that are not helping the country at all,” said Mr Moyo.

A retired senior civil servant, Dr Silvia Utete Masango called for timely implementation of agreed resolutions.

“I think as government and industry we have to agree on timelines of implementation of agreed upon resolutions if we are to make a difference in such gatherings as these knowing that year in year out, we say the same things but have no implementation strategy,” she said.

The international business conference is the highlight of the ZITF and is expected to be the game changer in trade and investment promotion in the country.

A total of 14 countries being represented by 21 exhibitors are taking part with some showcasing their products for the first time.

They acknowledged the rolling out of comprehensive investment reform programme by Government meant to remove a myriad of bottlenecks that have hindered foreign direct investment and domestic operations.

The improvements in investment climate have positioned the country favourably in global rankings thereby attracting much-needed FDI.

Going forward, the foreign exhibitors said the country was likely to see a number of foreign investors setting up businesses on the back of improved investor sentiment.

The conference had three-panel sessions, the first being anchored on the structural transformation of value chains.

Confederation of Zimbabwe Industries (CZI), Mr Kurai Matsheza

It highlighted on perspectives from business and industry leaders and was co-chaired by the president of the Confederation of Zimbabwe Industries (CZI), Mr Kurai Matsheza and Zimbabwe National Chamber of Commerce (ZNCC) president, Dr Tinashe Manzungu.

The second panel sought to tackle inclusive value chain development through financing and investment.

This segment was led by the executive vice-president of Afreximbank, Mr Denya, managing director of BancABC Zimbabwe, Dr Lance Mambondianiwho will be representing Bankers Association of Zimbabwe, IDC chairman, Mr Winstone Makamure, Zida acting chief executive, Mrs Duduzile Shinya and AFDB country manager Ms Moono Mupotola.

The third panel was focusing on re-imagining value chain opportunities and challenges and was chaired by ZEPARU executive director, Dr Gibson Chigumira.

 

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