Industry underpins re-industrialisation agenda on improved capacity utilisation

By Davison Vandira

THE prevailing macroeconomic stability coupled with increased capacity utilisation and productivity has given industry reason to believe the year 2022 will shape and give impetus to the country’s re-industrialisation agenda.

The year 2021 which comes to an end in a few days will be remembered by the country’s industrialists as the turning point of industrial
development as production and productivity almost reached the ceiling, thanks to prudent fiscal management despite the covid-19 threat.

To bring perspective to industrial activity for the period under review, 60 percent of retail shelves were congested with locally manufactured products throughout the year.

Zimbabwe National Chamber of Commerce President, Dr Tinashe Manzungu, says the country’s industrial transformation agenda is well on course, with the year 2022 central to the attainment of this vision.

“It is really exciting times for the country’s industry as we witnessed massive growth in 2021 and we envisage to continue witnessing major milestones in the coming year as we envisage economic development,” said Dr Tinashe Manzungu, Zimbabwe National Chamber of Commerce President.

Dr Manzungu noted that the main focus going into the New Year is improving industrial efficiency and effectiveness to compete globally.

“We now want to increase our product competitiveness for better development of our economy, which will aid in the process of attaining our broader macroeconomic goals.”

The continued resurgence of the country’s industrial base is a strong foundation in the implementation of the National Development Strategy One.