Govt crafting new industrial policy

Godfrey Gavure Business Reporter
Government is working on ensuring that the manufacturing sector contributes 30 percent to the national GDP by 2016 as prescribed in the Industrial Development Policy framework that covers the period from 2012 to 2016.

Addressing SMEs at the breakfast meeting of FBC and SMEs this week, director of Enterprise Development in the Ministry of Industry and Commerce, Mrs Florence Makombe said the main objective of the policy is to restore the manufacturing sector’s contribution to the GDP of the country.

“The 2012-2016 IDP overall objectives are to restore the manufacturing sector’s contribution to the country’s GDP from the current 15 percent to 30 percent and increase exports from 26 percent to 50 percent by 2016.

“It also has to create an additional employment in the manufacturing sector on an incremental basis and to reduce unemployment levels by 2016,” she said.

She said there is need for the policy to strengthen the existing institutions such as SIRDC, SAZ, ZimTrade, Competition and Tariff Commission and Consumer Council of Zimbabwe and to coordinate the crucial role of modernising industry’s plant and equipment and to improve on its systems and quality of products in line with international best practice.

Meanwhile, Mrs Makombe said the ministry is drafting the new Industrial Development Policy for the period 2017 to 2021, which is aimed at objectives that were not achieved by the current policy.

“There are a number of objectives in 2012-2016 IDP which were not achieved hence the upcoming IDP will cover those objectives which will bring change to the industrial sector,” said Mrs Makombe.

She said the review of the existing policy is underway.

The Industrial Development Policy envisages transforming Zimbabwe from a producer of primary goods into a producer of processed value-added goods for both the domestic and export markets through the promotion of viable industrial and commercial sectors.

It is there to create a vibrant, self-sustaining and competitive economy.

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