Online Reporter
Debra Matabvu [email protected]
Government will continue implementing bold policy reforms aimed at stimulating investment, accelerating industrial growth and creating jobs, President Mnangagwa said yesterday.
Speaking while commissioning Varun Beverages Zimbabwe’s new Cheetos snacks manufacturing plant and the foundation stone laying ceremony for a juice and dairy blending facility, the President said Cabinet had approved sweeping reductions in regulatory fees, licences and compliance costs affecting key sectors of the economy.
“My Government stands ready to refine the ease of doing business and partner with the private sector to unlock the full potential of our economy,” said the President.
“In this regard, yesterday, Cabinet approved the slashing of numerous regulatory fees, licences and compliance costs, including those related to manufacturing, financial, real estate and health care sectors.
“My administration shall not hesitate to take bold decisions towards stimulating investment, multi-pronged industrial growth, job creation and broad-based empowerment that benefit our nation and people, as a whole.”
President Mnangagwa reaffirmed Government’s commitment to fostering an investor-friendly environment while promoting local manufacturing, import substitution and value chain development.
“Zimbabwe is Open for Business and will continue to be a safe, secure and competitive investment destination.”
The President said the commissioning of the new production plant and the additional US$20 million investment by Varun Beverages mark another milestone in the country’s industrialisation drive.
“The local production of such globally celebrated brands serves as an endorsement of the country’s economy, policies and ability to deliver high-quality, internationally competitive products,” he said.
