admin
Business Reporter
THE Confederation of Zimbabwe Industries (CZI) says it will release its 2016 manufacturing sector survey report next week on Wednesday.
The crucial survey findings are widely recognised as Zimbabwe’s leading analysis of the state of industry and the factors affecting business operations in the country.
CZI chief executive officer Mr Clifford Sileya told Business Chronicle yesterday: “The manufacturing survey’s results will be released on Wednesday, November 23, 2016, at the Meikles Hotel in Harare.
“We have invited the Minister of Industry and Commerce (Mike Bimha) to officiate at the launch. Reserve Bank of Zimbabwe governor Dr John Mangudya will also be in attendance to make a presentation on the much talked about bond notes.”
The aim of the survey is to provide businesses with a lobbying position and reference point when meeting policy makers and Government with information on obstacles to economic growth as well possible solutions in designing better economic policy.
The manufacturing sector, among other operational challenges, is grappling with lack of working capital to invest in new machinery as well as high cost of borrowing and weak demand associated with the prevailing liquidity constraints.
The results of the survey are being released prior to the 2017 national budget presentation by the Government so that Finance and Economic Development Minister Patrick Chinamasa can capture industry concerns into the 2017 fiscal policy statement.
Early this year, CZI identified 18 value chains that need to be prioritised to revive the economy.
The identified value chains among others include cotton-to-clothing, beef-to-leather, juice-to-can or horticultural farm-to-juice value chain and fish-to-fork.
Mr Sileya is on record as saying this year’s survey will take a sectoral approach “based on the value chains that we have identified”.
He said focus would be on value chains in line with this year’s congress theme, which centred on “Strengthening value chains for sustainable industrialisation and economic development”.
While capacity utilisation in the manufacturing sector stood at 34,3 percent in 2015, CZI has hinted that some firms have this year managed to improve their capacity to competitive levels.
“Despite low capacity utilisation levels in the manufacturing sector, some companies are doing very well in relation to stimulating productivity,” said Mr Sileya.
He said companies in sectors such as food and beverages, edible oils and the dairy industry were doing better.
“Improvement in capacity utilisation levels can be attributed to improved power supply in the past six months as well as co-operation between industry and the Government for instance on the Statutory Instrument 64 of 2016,” said Mr Sileya.
Online Reporter