By Davison Vandira
GOVERNMENT has pledged to increase its financial support to the local manufacturing industry in order to boost production and create more jobs.
More than fifty Local companies were this Friday honoured by Buy Zimbabwe for their priceless role in promoting growth and competitiveness of the domestic industry in line with the aspirations of the National Development Strategy One.
The need to drive the economy towards self reliance with respect to local production is the major objective of Buy Zimbabwe in championing Local content policy .
“As an economy we should pride ourselves in satisfying our own needs and this is only achievable if Local companies come to party through satisfactory production levels,” said Buy Zimbabwe Chairman, Munyaradzi Hwengwere.
Government, through the Ministry of Finance and Economic Development has committed to strengthening existing local manufacturing value chains to support the country’s development matrix through enhanced value addition propositions.
“Government and Buy Zimbabwe are reading from the same page when it comes to the clarion call to increase local content through targeting the agro processing value chains which feeds the local industry,” explained the Minister of Finance and Economic Development, Professor Mthuli Ncube.
The current improvement in capacity utilisation from 40 to 60 percent and the improvement of shelf occupancy by local products has been possible through policies put in place by the Ministry of Industry and Commerce which is working to fast track the industrialisation agenda as explained by the responsible Minister, Hon Sekai Nzenza.
” I am happy that Buy Zimbabwe has partnered government in their campaigns for the promotion of, production, and consumptive preferences of local products,” she said.
Local companies have also been challenged to continue improving product quality to meet export standards as the country pushes for export led economic growth.