UN avails 20,6m euros for re-industrialisation

26 Jul, 2016 - 00:07 0 Views
UN avails 20,6m euros for re-industrialisation Minister Bimha

The Herald

Business Reporter

The United Nations Industrial Development Organisation (UNIDO) has availed a 20,6 million euro three-year support facility towards Zimbabwe’s re-industralisation country programme. The country programme focuses on industrialisation through value addition and beneficiation as enablers of economic growth, which is in sync with the Zim-Asset economic blue-print.This also makes Zimbabwe the 11th country out of 54 African countries to be prioritised by the UNIDO’s country programmes.

The country programme focuses on six components which support delivery of Zim -Asset objectives among them support value addition, quality infrastructure and access

to competitive markets for selected value chains. The programme will also focus on upgrading small to medium enterprises and support institutions as well as pharmaceutical recovery and its competitiveness.

Industry and Commerce Minister Mike Bimha said UNIDO and Government through his ministry have been working together since 2013 to revive the sector through developing a Pharmaceutical Sector Development Strategy.

The approval of the country programme, Minister Bimha said, was a timely intervention that would enhance industry competitiveness, at a time local industry has suffered capacity constraints and uncompetitiveness on both the domestic and regional market.

“Zimbabwe has not had a country programme for so many years leading to it lagging behind its neighbours in the region.

“The Government of Zimbabwe in its quest to industrialise is not only looking at support from its partners, but going to great lengths to make the investment environment more welcoming,” he said.

In line with this, Minister Bimha added Government would continue working towards providing an enabling environment conducive for business growth.

According to the World Bank’s ease of doing business index, Zimbabwe is ranked 155 out of 189 economies while the World Economic Forum’s Global Competitiveness Index ranks the country at 125 out of 140 countries.

UNIDO director Africa programme division Mr Koffi Edme said inclusive and sustainable industrial development could only be achieved by building multi-stakeholder partnerships with governments, financial institutions, private sector and the academia.

He added the use of inclusive sustainable industrial development (ISID) approach was ideal in enhancing productivity, international competitiveness, creating jobs, incomes and supporting economic diversification.

“In essence, ISID promote structural transformation focused on unleashing development through innovation, efficient and sustainable use of resources,” he said.

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