Import substitution strategies continue to bear fruit

By ZBC Reporter
GOVERNMENT’S export promotion and import substitution policies continue to bear fruit, with local companies expanding their production capacity.
The Second Republic’s thrust to reduce imports and increase exports has seen the Ministry of Foreign Affairs and International Trade crafting policies for local companies to expand production.
This Monday, the Minister of Foreign Affairs and International Trade, Retired Lieutenant General, Dr Sibusiso Moyo was impressed by the progress at a company based in Harare’s Workington area.
“As Government, export growth is on top of our priorities hence the aspect of promoting local companies will help achieve that goal and reduce our import dependence,” said the minister
Trade Kings Corporate Affairs Manager, Christine Chitongo said thanks to government’s pro-business policies, they are now able to export to the SADC region.
“Our product capacity has increased by using over 3500 tonnes of paste per month whilst we our employee count is now over 500 so this is because of the local policies allowing us to achieve that,” said Chitongo.
Ambassadors designate, Dr Nancy Saungweme and Johannes Tomana were also part of the tour, where they underscored the need to promote local products as part of their diplomatic assignments.
“The work the company is doing manifests how important it is to promote local products to reduce the import bill,” said Dr Saungweme.
“We now appreciate the change of roles of our assignment because we need to focus on increasing the country’s exports hence the need to embrace what local companies are doing,” noted Tomana.
Zimtrade Chief Executive Officer, Mr Allan Majuru organised the tour as part of the trade promotion body’s thrust to assess Zimbabwe’s progress towards achieving set trade goals.