adminNgoni Dapira Business Correspondent
THE Zimbabwe National Chamber of Commerce national deputy president, Mr Davison Norupiri, has called on Government to tighten the free-for-all trade system in the country, citing that it was bad for foreign investors. In an interview on Tuesday, Mr Norupiri said the free-for-all trade disorder which is on the increase in the country was bad for potential foreign investors.
“Investors want security of their investment which often comes from calculated anticipated turnover charts, of which with no control measures on the free-for-all trade in the country, this is clearly bad for investment.
“We need to control imports coming into the country, especially those which can be produced locally by our companies which are creating employment for our people and contain illegal vending,” said Mr Norupiri.
Mr Norupiri’s view comes at a time when the smuggling of goods through the country’s porous borders and other illegal entry points has become a contentious issue in business.
This has been derailing Government’s efforts to protect the local industry as banned imports continue to flood the local market.
Although Government has put in place policy measures to protect local industries by banning the import of selected goods manufactured locally, porous border posts and other illegal entry points are derailing strides to contain the issue.
Buy Zimbabwe Campaign managing director Mr Munyaradzi Hwengwere said the smuggling of goods was crippling the Zimbabwean economy regardless of Government policies aimed at boosting the performance of local industry.
In the mid-term 2014 budget review, Finance and Economic Development Minister Patrick Chinamasa banned the importation of some agricultural-related products such as cooking oil and flour, among other items. The same commodities, however, still find their way into the country.
Last week the Minister of Industry and Commerce, Cde Mike Bimha, announced that from January next year there would be a 10 percent duty on all imported sugar to protect the local sugar industry currently negatively affected by a slump in sales.
Minister Patrick Chinamasa yesterday (Thursday) presented the 2015 national budget where he was expected to balance the current desperate need to promote economic growth and raising revenue for the Government as well as tackle the imports’ influx state of affairs.
Online Reporter