AVM urges Govt to support local industry

local industry, saying the recently launched “Buy Zimbabwe Campaign” was a noble economic turnaround initiative.
In a statement yesterday, the company said the illegal Western sanctions on Zimbabwe were affecting their ability to access lines of credit from outside the country.
“As a manufacturer, we have not been spared the challenges all businesses in our sector have been subjected to, including the issue of lack of credit lines and inability to get acceptable letters of credit from local financial institutions due to sanctions that the country is under.
“As such we advocate the formulation of country strategies that enable businesses such as ours to survive.
“Some of these strategies include support from Government through legislation designed to assist manufacturers.
“This legislation should mitigate the negative effects of sanctions on businesses that rely on importation of part of our inputs,” reads the statement.
AVM supplies both local and regional markets and said a deliberate policy by Government to purchase locally manufactured goods would be welcome.
“At the same time, a policy to guide procurement by State departments and ministries to secure products from local manufacturers will result in huge benefits to the country,” the company said.
AVM said if local industry was supported, the effects of sanctions would be diluted and the economy would grow.
At its peak, the firm employed more than 1 000 people and supported over 80 local companies.
It has a capacity to produce 600 buses annually.