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Arenel and Bakers Inn expansion embodies NDS1 goals

Arenel and Bakers Inn expansion embodies NDS1 goals

Story by Yolanda Moyo

MANUFACTURING sector growth is being recorded in Bulawayo, thanks to government economic policies supporting industrialisation.

The Minister Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube this Friday toured two of Bulawayo’s manufacturing giants, Arenel foods and Bakers Inn which have embarked on an expansion drive.

The massive expansion projects by the two firms have been largely attributed to the conducive macro-economic environment spearheaded by the Second Republic.

“For the past five years, the company has grown and expanded looking at the manufacturing plants we have acquired, many thanks to the government for the support through the auction system as most of our equipment we got it through that. We urge the government to fine-tune it so that it becomes a market-driven auction system. We have acquired state-of-the-art equipment and we are expanding our operations. We are seeing opportunities thus why we are undertaking massive expansion projects. Our expansion has enabled us to increase our employment capacity in the past five years by 80 percent. We have invested a total of 8 million in the past five years,” said Arenel Compliance Manager, Mr Steven Ncube.

For the government, the positive developments at Arenel Foods and Bakers Inn are just a tip of a iceberg regarding industrial growth in the country.

“I have been very impressed with the growth l have seen here. What l have seen here showcases that the industry in Bulawayo is coming back. These investments contribute to import substitution by increasing domestic production of essential commodities. They create jobs, stimulate economic activity in Bulawayo, and contribute to our overall vision of a more diversified and industrialized economy.

“The expansion speaks to NDS1 when we put in place policies that seek to grow our economy. This was made possible by the rebate system, retooling Fund for Industry and access to foreign currency auction system. The quality of technology here just speaks to the quality of depth of industrialization here in Zimbabwe,” said the Minister of Finance and Investment Promotion, Professor Mthuli Ncube.

The revitalisation of Bulawayo’s manufacturing sector holds significant promise for Zimbabwe’s economic growth, with the government walking the talk by implementing an enabling environment for business development.

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