Chronicle Editor
Nqobile Tshili, Business Reporter
SYNERGIES and partnerships will be key in reawakening Bulawayo into an industrial hub and the country needs to leverage on local resources for economic growth, Government has said.
This emerged yesterday during the International Business Conference which was organised by the Zimbabwe International Trade Fair Company in conjunction with the National Economic Consultative Forum.
The business conference was attended by senior Government officials, captains of industry, diplomats among other interested parties.
Addressing delegates, Bulawayo Provincial Affairs and Devolution Minister Judith Ncube said hosting of the trade showcase after it was postponed for several times has given hope to the business community that there will be continuity despite Covid-19.
She said the trade showcase brings together local, regional and international industrialists, traders and potential investors to network and explore investment opportunities.
“Through regional and international integration, Zimbabwe can reclaim economic powerhouse status and Bulawayo can regain its status as the industrial hub of the country. Bulawayo province is excited to host the premier showcase which was postponed last year due to Covid-19 pandemic. For the province, ZITF is one of the biggest economic events as it enhances linkages in the various sectors of the economy,” she said.
“The return of ZITF gives hope to most business operations that have been negatively affected by Covid-19 pandemic. I am confident that business deals to resuscitate the industries would be struck and our companies would be able to create partnerships and synergies under the new normal of doing business that has been created by the Covid-19 pandemic.”
Minister Ncube said some of the economic challenges affecting the country should spur creativity and innovation to transform livelihoods.
She challenged industry to utilise the trade showcase as a stepping stone towards achieving Vision 2030.
“In addition, I believe our once vibrant city can be revived through investment and appropriate marketing initiatives like this conference. The achievement of His Excellency, President Cde E D Mnangagwa’s aspirations of the country becoming an upper middle-income economy by 2030, requires collaborative efforts from all stakeholders,” she said.
“And the need to exponentially improve our exports cannot be overemphasised, exports generate foreign currency which enables industrial growth which in turn translates to improved livelihoods for our citizenry. I urge all of us to work hard and make Vision 2030 a reality.”
Minister Ncube said exhibitors and visitors should also visit heritage sites located within the city during their stay in Bulawayo.
Bulawayo was declared the country’s heritage corridor due to several monuments that exist in the city including Inxwala grounds, the hanging tree, Joshua Mqabuko Nkomo Statue and the National Museums and Monuments among others.
Speaking during the same event, Industry and Commerce Minister Dr Sekai Nzenza said hosting of ZITF affirms that business has to move on in the midst of Covid-19.
She commended ZITF Company board chairman Mr Busisa Moyo for working closely with her ministry in ensuring that the biggest trade showcase was successfully hosted.
Dr Nzenza said Covid-19 has proven that Zimbabwe can rise and tackle its challenges head on as observed by the improvement in the production sectors and contributing to import substitution.
“The Ministry of Industry and Commerce are here to celebrate what has happened in the manufacturing sector. We have moved from about 29 percent (capacity utilisation) in March 2020 to about 47 percent in the last quarter of 2021 and the current figures we have show that we would move up to at least 65 percent capacity utilisation by December,” said Dr Nzenza.
She said the developments in industry are in sync with the national vision of transforming the economy into an upper middle-income economy by 2021.
“My ministry’s mandate within the National Development Strategy 1 (NDS1) is that we utilise the local raw materials that we have in this country. We work together with the Ministry of Higher and Tertiary Education, Innovation, Science and Technology Development to be more innovative and utilise technology, produce goods that are of quality and can be consumed locally and also be exported,” she said.
She said this compels Government ministries, parastatals and the private sector to work closely and come up with solutions to the country’s challenges. — @nqotshili
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