adminSimiso Mlevu
THE government has set up a resource mobilisation committee chaired by Vice-President Emmerson Mnangagwa to spearhead the revival of Bulawayo industries, which are key to economic turnaround in the country.Addressing journalists soon after touring several local and foreign exhibitors’ stands at the on-going Zimbabwe International Trade Fair (ZITF) yesterday, VP Mnangagwa said he has been tasked to chair the resource mobilisation committee, which is composed of all the economic ministries in the government.
“There’s a very serious concern which we have in the government pertaining to Bulawayo because in the past, the city had the distinction of being the industrial hub of Zimbabwe, actually serving the region,” said VP Mnangagwa.
He said the economic recession, which hit the world markets in the last few years, affected the country and particularly Bulawayo industries.
“The companies in Bulawayo, because of the recent downturn of the economy, closed while some have downsized. We’re now focused on finding ways of resuscitating these industries. Actually, we already have a resource mobilisation committee which I chair. It embraces the concept of how do we revive industries,” he said.
VP Mnangagwa said while the committee was comprised of economic ministries in government, it was open to contribution from any other stakeholders who were willing to contribute to the focused approach to revamping the economy.
The Vice-President, who toured ZITF exhibition stands for the first time, said he was impressed with what he saw at the trade fair.
“This is my first time to have a comprehensive tour of ZITF. I’ve attended almost all the previous showcases but have never really bothered to go round all the stands.
“I’m impressed because I’ve realised that even though our economy isn’t performing too well, but with what I saw, our vision for a prosperous economy will be realised sooner than many people think,” he said.
According to statistics, more than 100 companies have closed in Bulawayo.
In 2011, the government and Old Mutual set aside $40 million for the Distressed Industries and Marginalised Areas Fund (Dimaf) to help companies retool.
However, Dimaf only assisted a few companies due to the short term nature and high interest rates of the loans.
Online Reporter