‘Tap into Zim’s natural resources, human capital’

Oliver Kazunga-Senior Business Reporter

ZIMBABWE should embrace the principles of sustainable industrialisation, taking advantage of its natural resource endowments and an industrious human capital base.

Industry and Commerce Minister Mangaliso Ndhlovu said this while officially opening the Zimbabwe National Chamber of Commerce (ZNCC) annual congress in Victoria Falls on Wednesday.

He said the country had immense potential to achieve sustainable industrialisation and build a fortified and diversified economy.

“Our rich natural resources, industrious people, and strategic location provide us with a solid foundation upon which we can build a fortified and diversified economy.

“To fully realise this potential, we must embrace the principles of sustainable industrialization. We must innovate and adopt practices that not only drive economic growth but also safeguard our environment for future generations,” he said.

“This is not just a moral imperative; it is a strategic necessity in an increasingly eco-conscious global market.”

The three-day event ended yesterday under the theme: “Unlocking New Frontiers for Sustainable Industrialisation and Climate-Smart Business Growth”.

Minister Ndhlovu said this year’s theme challenged businesses to explore new avenues for growth, invest in green technologies, and foster partnerships that promote sustainability.

“This theme calls on us all to be pioneers in climate-smart business practices, ensuring that our industries thrive while minimising their environmental footprint.

“Just yesterday (Tuesday), the Cabinet approved the 2024 National Voluntary Review; which is a self-assessment mechanism on our progress towards the alignment of our sustainable development efforts with global and regional frameworks.

“I am pleased to note that as a country, under the Second Republic, we have made tremendous strides in 14 of the 17 Sustainable Development Goals (SDGs).

“Indeed this is no mean feat but a lot more can and will be done.”

He commended the business community particularly innovative entrepreneurs and climate-smart business leaders from Zimbabwe and beyond for attending the ZNCC annual congress saying their vision, creativity and determination are the driving forces behind the continent’s progress.

The Minister Ndhlovu said business leaders needed to take full advantage of the opportunities presented at this year’s ZNCC congress.

He said the Government remained committed to creating an enabling environment for businesses to flourish and is continuously working to improve infrastructure, streamline regulatory frameworks, and provide the necessary support for innovation and entrepreneurship. “Our goal is to ensure that Zimbabwe is not only open for business but is a preferred destination for investment.

“In order to achieve that goal, I call on every stakeholder to contribute to that objective in whatever way possible.

“Initiatives such as the Annual State of Industry and Commerce Survey that are spearheaded by the ZNCC and its partners are crucial in guiding policy direction and I urge the private sector to continue participating in such surveys,” said Minister Ndhlovu.

Given that the ZNCC annual congress continues to attract the presence of international speakers and delegates from the region and beyond, he said, this provides avenues for enhanced information sharing and mutually beneficial collaboration that transcends historical borders.

Minister Ndhlovu added that the Second Republic had taken a “Whole-of-Government Approach” in addressing the needs of all the stakeholders, leaving no-one and no-place behind.

“Upon reflection and consultation with various stakeholders in the private sector, I’m pleased to highlight that we are working on a transitional industrial reconstruction and growth plan which is meant to realign our Industrial Development Policy with the National Development Strategy 2 (NDS 2).

“This plan critically seeks to address fundamental structural weaknesses in our manufacturing sector, resetting the sector to be able contribute upwards of 20 percent to our Gross Domestic Product (GDP) as we did before.

“Efforts are underway to promote energy efficiency and renewable energy, with companies and regulatory bodies collaborating to adopt cleaner technologies.’’ he said.