Government, business organisations ink MoUs

Remember Deketeke

Herald Reporter

In an effort to strengthen Zimbabwe’s economic prosperity, the Ministry of Industry and Commerce yesterday inked memoranda of understanding with businesses in the private sector.

The MoUs seek to develop policies that promote sustainable industrialisation, trade, and investment while providing expert advice and technical assistance to both the Government and businesses.

The Ministry signed MoUs with Atlas Convention, CEO Africa Round Table, the Shipping and Forwarding Agents Association of Zimbabwe, the Confederation of Zimbabwe Industries, the Zimbabwe National Chamber of Commerce, the Zimbabwe Traders Union and the Zimbabwe Sugar Association among other organisations.

Speaking at the signing ceremony in Harare, Industry and Commerce Minister Mangaliso Ndlovu said these MoUs are building blocks towards the attainment of an upper middle-income economy by 2030.

“The signing of these MoUs represents a pivotal moment in our journey toward achieving the ambitious targets set out in our National Development Strategy 1 and Vision 2030, which aim to transform Zimbabwe into a prosperous and empowered upper-middle-income society.

The agreements were not just symbolic, but a testament to Zimbabwe’s collective resolve to create a robust and sustainable business environment that supported the national development agenda.

“Together, we are setting the foundation for a collaborative approach to addressing the challenges and opportunities that lie ahead, particularly in strengthening our industries and enhancing Zimbabwe’s global competitiveness.”

Minister Ndlovu said the MoUs underscored the need to foster a strong business environment.

“This includes creating a conducive regulatory framework that encourages investment, streamlining bureaucratic processes to reduce red tape, and ensuring transparency and accountability in our dealings with the private sector.

“These MoUs are designed to enhance Zimbabwe’s global competitiveness. This entails developing export-oriented industries, improving the quality and standards of local products, and strengthening trade and investment relations with international partners,” the Minister said.

Zimbabwe Traders Union chairperson Mr Kudakwashe Reid said the MoUs would assist in simplifying cases and concentrating on most effective ways to restructure the economy in accordance with the Industrial Reconstruction and Growth Plan (2024–2025).

“These MoUs have come to cement the recently launched Industrial Reconstruction and Growth Plan (2024–2025) which outlines key initiatives to boost local production and reducing reliance on imports, which have historically burdened the economy,” he said.

“We should lobby for the creation of platforms that augment Government efforts and lead Zimbabwe to Vision 2030.”

Zimbabwe Sugar Association chief executive officer Mr Edwin Kondo said: “We are excited as the Zimbabwe sugar industry to be working with our parent ministry in terms of regulations of the sugar industry, and facilitating the growth of the industry”.

Zimbabwe National Chamber of Commerce chief executive officer, Mr Christopher Mugaga said the MoUs would focus on facilitating business links through networking events, conferences, trade fairs, and business-to-business meetings to promote collaboration and knowledge exchange.