adminAt approximately $5 billion, the country’s import bill has increased viewed against exports of $3,6 billion.
A huge difference between exports and imports reflects lack of confidence in local manufactured goods, a development which stifles growth of industries.
Speaking at this year’s edition of the Buy Zimbabwe Conference, Industry and Commerce Deputy Minister Mike Bimha said there was a need to promote production and consumption of local goods.
“If we continue like this, unregulated imports will cripple our markets,” he said.
“We need initiatives such as Buy Zimbabwe which will help reverse this unsustainable tide of imports”.
Mr Bimha said dialogue between Government and business should continue to enable formulation of policies that suit industry.
“We need policies which will stimulate local industry. The Industrial Development and Trade policies which promote viable industrial and commercial sectors as well as sustainable domestic and international trade were a result of intensive consultations with captains of industry,” he said.
Speaking at the same occasion Confederation of Zimbabwe Industries president Mr Joseph Kanyekanye said local companies should produce in line with the requirements of the market.
“Local industry should step up to the plate. We should ensure that our goods and services meet standards of the international markets”.
Buy Zimbabwe seeks to ensure that local products and services become more competitive both on the local and international scale.
Running under the theme “Footprints in the sun”, this year’s conference focuses on crafting policies that would promote a sustainable economy that supports local products. — New Ziana.
Online Reporter