Byo re-industrialisation a priority: VP Chiwenga

“The essence of the re-industrialisation agenda, requires that our industries are competitive at both the regional and international markets. The essence is to invest in efficient manufacturing processes that will give us a competitive edge on the global market in terms of product pricing and quality,” said VP Chiwenga.

“Once we become competitive, the growth possibilities for our manufacturing sector are immense.”

VP Chiwenga called upon business to take advantage of the Continental Free Trade Area, recently signed by President Emmerson Mnangagwa and other heads of states in Rwanda, which he said will create a single market for 1.2 billion people and a combined two trillion United States dollars.

The Vice President said Government was also seized with harmonising investment laws and regulations to attract domestic and foreign investment. This includes capacitating the One Stop Shop Investment Centre in order to reduce bureaucratic red tape that was delaying the approval of investment proposals at the same time intensifying the implementation of Ease of Doing Business reforms.

“Another important variable to our re- induistrialisation agenda, is the development of modern infrastructure which is a key enabler to sustainable growth of our industries,” said VP Chiwenga.

“The availability of affordable and reliable utilities is critical in minimising the cost structures of the companies in order to improve viability and competitiveness.”

VP Chiwenga said commissioning of the $533 million Kariba South Hydro Power Station by President Mnangagwa last month, was a milestone achievement as it has added a further 300MW into the national grid thereby reducing power imports.

He said after Kariba, the Government was now focusing on Hwange 7 and 8, which is at the stage of financial closure. VP Chiwenga said Government had also sourced resources for the construction of Kunzvi Dam and through the $400 million facility with the Diaspora Infrastructure Development Group (DIDG) and Transnet, acquired wagons and locomotives for the National Railways of Zimbabwe.

He said the Government is also mobilising resources for upgrading infrastructure in the ICT, health and educational sectors.