Govt mulls duty-free imports for SMEs
THE Ministry of Women Affairs, Community, Small and Medium Enterprises Development is in discussion with the Ministry of Finance and Economic Development for the purpose of designing a model that will enable SMEs to import raw materials duty-free.
Officiating at a meeting with Kwekwe SMEs entrepreneurs Minister of Women Affairs, Community, Small and Medium Enterprises Development, Dr Sithembiso Nyoni has said the talks sought to benefit businesspeople in the sector.
In her keynote address, Minister Nyoni said the major challenges facing growing business was shortage of foreign currency and hassles associated with importing raw materials.
“I want to assure all SMEs here that we are in discussions with the ministry of finance so that you can form groups and go to China or any other country and bring fabrics or any other material duty free. We are trying to reduce the burden on the business,” she said.
Minister Nyoni said Government was also organizing exchange programmes with other countries where local entrepreneurs would go to get first-hand information so that they can be competitive on the global market.
“As Government we are also working on improving the quality of machinery that is produced locally. Working hand in glove with local universities, we will soon embark on tours to countries like India so that we see how they produce top quality machinery so that we also can supply our locally produced machinery,” said Minister Nyoni.
She commended SMEs for embracing the local currency while urging them to desist from charging inflated prices.
“I also discovered through this tour that most SMEs have embraced the local currency,” she said.
The minister emphasised on the need to produce top quality products for the both the local and international market adding that Government was trying to fund training in some entrepreneurial courses.
“Here in Kwekwe, there is Kwekwe Polytechnic College that is training SMEs and we will support all small businesses intending to learn skills.”
Midlands Provincial Affairs Minister, Larry Mavima who was accompanying Minister Nyoni said SMEs were a vital cog in the economic turnaround strategy hence the need to give them more support so that they play their role in attaining vision 2030 as envisaged by President Emerson Mnangagwa.
“SMEs are the biggest employer and we are hopeful that with more Government support, they can help turn around the economy and help attain the vision 2030. In fact, Government support has come at an appropriate time when the country’s economy is going through a turn around process,” said Minister Mavima.