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THE private sector is expected to play a key role towards accelerated and sustainable growth and development and spearhead policy reforms and support Government programmes, an official has said.
Speaking during an engagement with captains of industry in Bulawayo today, permanent secretary for Industry and Commerce, Dr Mavis Sibanda said that the Government, under the National Development Strategy 1 (NDS1) has placed the private sector as the engine for accelerated and sustainable growth.
She called for the strengthening of the public-private sector relations.
“This meeting is being held in light of the fact that the Government, under the National Development Strategy 1 (NDS1) has placed the private sector as the engine for accelerated and sustainable growth and development, hence, we continue to invite the private sector to take lead in policy reforms and supporting Government programmes to develop the motherland and address the perennial challenges affecting our country,” said Dr Sibanda.
Dr Sibanda said the ministry will continue to strive for the creation of new jobs and preservation of the existing ones, by driving the industrialisation agenda, through promoting the production and consumption of local goods and services.
“It is against this background that the Ministry is strengthening linkages amongst different value chains, as part of the implementation of the National Development Strategy 1.
“Within the pillar on Moving the Economy up the Value Chain and Structural Transformation, the Ministry came up with sector-specific strategies, which seek to prioritize key value chain growth including the pharmaceutical strategy, leather strategy, cotton-to-clothing strategy, sugar strategy and iron and steel strategy, among others.”
She said developing a robust industrial and commercial sector is vital for import substitution.
“The Local Content Strategy therefore presents an opportunity for increased local production anchored on stimulating the development of local industry, value and supply chains as well as promoting local linkages amongst the agricultural, extractive, manufacturing and service sectors.
“The current obtaining global economic realities have transformed the world into one global village. Businesses need to therefore brace themselves for this reality by adopting innovative ways of conducting business, economic diversification and maximizing trade potential.”
This will result in positive knockdown effects on the domestic economy through increased production, export earnings, employment creation, and increased household incomes, she said.
The meeting was attended by newly appointed Minister of Industry and Commerce Dr Sithembiso Nyoni and various captains of industry.
Stakeholders follow proceedings during an engagement with captains of industry in Bulawayo today
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