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Govt will continue providing sector-specific incentives to improve production, President Mnangagwa

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Govt will continue providing sector-specific incentives to improve production, President Mnangagwa

Story by Josephine Mugiyo, Diplomatic Correspondent

PRESIDENT Emmerson Mnangagwa says his government will continue to provide sector-specific incentives to improve industrial production.

The President was speaking at a congratulatory dinner organised by the Confederation of Zimbabwe Retailers this Wednesday evening in Harare.

The August 2023 General Elections saw President Mnangagwa and the ZANU PF getting a new mandate to lead the nation after a resounding victory.

Various sectors have since congratulated the President with the business community hosting a dinner for the head of state in Harare this Wednesday evening.

Expressing his gratitude to the business community for their gesture, President Mnangagwa noted the positive growth across various sectors of the economy.

“I am pleased to note the positive trajectory being recorded across all sectors of the economy, with growth in production and productivity, capacity utilisation as well as exports. I am advised that since the second republic came into office domestic products have increased on the shelves. The total exports between January and August 2023 grew by 6.1% to US$ 4.8 billion from the IS $ 4.42 billion recorded during the same period last year,” said President Mnangagwa.

The head of state also assured the business community that his government will continue to provide sector-specific incentives to improve production levels.

“My administration will continue to provide sector-specific incentives to improve production levels and capacity as well as the overall competitiveness of our local industries. All our businesses must be registered and the relevant government departments have been directed to provide comprehensive facilitation to ease the cost and simplify processes associated with registration,” said the President.

Development of key infrastructure to ensure the ease of doing business remains a priority. President Mnangagwa said the modernisation of the Beitbridge Border Post, among other initiatives, has removed bottlenecks in the movement of goods.

While noting the positive impact of the Hwange Unit 7 and 8 expansion project which has increased electricity generation, President Mnangagwa revealed that the government is currently seized with the upgrade of Hwange Units One to Six.