Industrialisation Policy on cards

THE Ministry of Industry and Commerce is at an advanced stage of completing the draft of the National Industrialisation Policy Framework aimed at revitalising the country’s industries.

Speaking at the official launch of Nedlac Automation Private Limited in Bulawayo last Friday, Industry and Commerce Deputy Minister Raji Modi said it was of paramount importance for the country to revive its once thriving engineering sector.

Nedlac Automation is a South Africa-based company, which recently opened a branch in Bulawayo. It is a major supplier of critical spares and raw materials to major reputable manufacturing companies and mining houses.

The company is said to have already injected about $1,5 million towards its operations in the country.

“My ministry is at an advanced stage of finalising the Zimbabwe National Industrialisation Policy Framework that will buttress the agenda on industrialisation. It is indeed important to point out that Zimbabwe used to have a vibrant engineering sector, which used to supply different industrial components. It is unfortunate that most of the players have closed down and the few still existing are operating at low capacity,” said Deputy Minister Modi.

He said the opening of a branch in Bulawayo by Nedlac complemented Government’s efforts of restoring the city’s industrial hub status, which has over the years diminished due to the effects of de-industrialisation, which saw a numerous companies closing shop while others relocated.

“The company brings immense contribution to the country’s economic growth and job creation as it cuts down on unnecessary costs as a result of lead time. Resuscitation of industry in Bulawayo remains a vital cog in the implementation of the Transitional Stabilisation Programme. Further to that, our recent budget has set aside $20 million to be advanced to industries with IDCZ (Industrial Development Corporation of Zimbabwe) having been allocated $20 million,” said Deputy Minister Modi.

Further to that he also said the Government was expediting the Ease of Doing Business as it forges ahead to attract more investors.

“The Government is also expected to fast track the Ease of Doing Business, so that we contribute as industry to a prosperous and Empowered Upper Middle Income Society by 2030,” said Deputy Minister Modi.

Nedlac business development executive Mr Prince Abraham said opening of a branch in Zimbabwe was driven by the passion and commitment of participating in the revival of Bulawayo’s industry as well as the existence of a potentially viable market in the country.

“First and foremost I believe in Bulawayo, since the 1980s it has been the hub of the industry in Zimbabwe as a whole, but over the years due to maybe changes in patterns of economic things Bulawayo has been neglected or it’s no longer maybe recognised as a hub. So I said to myself I want to come to Bulawayo and help revive the city into a big name again . . . ,” he said.