Story by Stanley James, Business Editor
Zimbabwe’s manufacturing sector is on a drive to increase production, propelled by new plant installations in line with national aspirations to attain an upper middle income society by 2030.
It emerged during the tour of a local tyre manufacturing entity this Monday that the country’s manufacturing industry is on course to achieve an annual capacity utilisation of above 60 percent.
With millions of United States dollars being invested by the manufacturing sector, it is the thrust to modernise operations that has charmed the industry value chains.
“As a company we are focusing on boosting production remember vision 2030 is all about what we can do to sustain growth and focus on building opportunities for growth of which that is what we are doing or focusing on such vision,” saidMr Rishi Magecha, Tiger Wheel and Tyre Managing Director.
A rise in local product stock, reduced import bill, growth in exports, employment opportunities coupled with a growing productivity base has seen government committing to more incentives for manufacturing entities.
“The Government remains committed to the growth of the manufacturing sector and this is evidenced by continuous growth in local productivity off course there are challenges here and there but we remain committed to facilitate growth,” highlighted Honourable Mangaliso Ndlovu, Minister of Industry and Commerce.
In line with Vision 2030 aspirations, Zimbabwe will next year unveil the second phase of the Industrialisation Development Roadmap to consolidate the current gains.
