Story by Memory Chamisa
PRIVATE sector players say government reforms aimed at accelerating industrialisation are strengthening investor confidence and driving the growing uptake of electric vehicles in Zimbabwe.
Business leaders say policy measures introduced under Pillar Two of the National Development Strategy 2 (NDS2), which focuses on Inclusive Economic Growth and Structural Transformation, together with the Ease of Doing Business and Regulatory Fees Reforms and the Zimbabwe National Industrial Development Policy, have created a more favourable environment for investment and business expansion.
Suzuki Zimbabwe General Manager Mr Lawrence Mawoni said recent reforms have made it easier for companies to grow their operations.
“I think a lot is happening, and government is putting many measures in place that have made it much easier for us to expand our footprint in Zimbabwe. There has been significant movement in terms of tax reductions and other incentives. When you consider all these developments, you can see that the environment is conducive to industrialisation and increased investment,” he said.
CFAO Mobility Zimbabwe Managing Director Mr Carl Varga said the policy environment has encouraged increased investment while supporting growth in the electric vehicle market.
“The government has created an environment where businesses are not constrained by excessive regulation, while consumers remain in a position to purchase our products. There has also been considerable progress in the electric vehicle sector, although we continue to lobby for tax reductions on hybrid vehicles. The operating environment in Zimbabwe has encouraged us to invest more in the country,” he said.
The Zimbabwe National Industrial Development Policy seeks to raise manufacturing’s contribution to gross domestic product from US$6.8 billion to US$18 billion by promoting climate-smart, resource-efficient industrialisation that enhances competitiveness and supports sustainable economic growth.
