Industry Ministry, ZimSA sign MoU to bridge policy-business gap

THE Ministry of Industry and Commerce has signed a memorandum of understanding (MoU) with the Zimbabwe-South Africa Business Chamber aimed at bridging the gap between policy formulation and private sector execution.

Speaking during the signing ceremony in Harare on Wednesday, the Minister of Industry and Commerce, Nqobizitha Mangaliso Ndlovu, said the partnership is set to catalyse economic transformation through closer collaboration between Government and business.

“Today, the Ministry of Industry and Commerce and the ZIMSA Business Chamber commit to a shared vision of prosperity, industrialisation and trade excellence. This MoU is a clear testament of our intent to bridge the gap between policy formulation and private sector execution,” he said.

Minister Ndlovu said the ministry’s mandate to accelerate inclusive industrialisation and commercialisation requires strong partnerships with organisations such as ZimSA, which facilitate business linkages and provide market intelligence for investors operating in Zimbabwe and South Africa.

Through the agreement, Government and the private sector will work together to create a conducive business environment by streamlining regulatory processes and improving efficiency. The initiative will also focus on supporting women, youth and small to medium enterprises (SMEs) as key drivers of economic growth.

“We are aligning our efforts to foster a strong business environment by creating a conducive regulatory framework and streamlining bureaucratic processes to improve efficiency,” said Minister Ndlovu.

He added that the partnership will also seek to enhance Zimbabwe’s global competitiveness by promoting export-oriented industries and strengthening trade and investment relations with other countries.

Under the MoU, the ministry will provide policy guidance, facilitate access to Government incentives and support trade promotion initiatives, including identifying target markets and organising trade missions.

On the other hand, ZimSA will represent private sector interests in policy discussions, provide feedback on regulations affecting businesses and disseminate economic and market information to its members.

To ensure effective implementation, a Joint Coordinating Committee (JCC) will be established to meet quarterly and review progress while addressing emerging challenges.

Minister Ndlovu said the agreement reflects a shared commitment to building a competitive and industrialised economy through mutual accountability and cooperation.