Chronicle Editor
Senior Business Writer
FINANCE, Economic Development, and Investment Minister Professor Mthuli Ncube on Wednesday said it is critical for the Government to support the manufacturing sector as it has the potential to create employment and generate revenue for the economy.
Speaking after touring the Zimbabwe Stock Exchange (ZSE) – listed Pro Plastics, a leading manufacturer of plastic pipes and fittings in Harare, Prof Ncube said several incentives exits for the sector.
He referred to the Value added Tax deferment which enables companies to import retooling equipment
Prof Ncube hailed the company’s productive capacity and automation efforts and also expressed optimism about the country’s business environment, predicting improvements that could double Pro Plastics’ turnover.
With a turnover of US$25 million, Pro Plastics has been a key supplier of high-performance piping solutions to various sectors in Zimbabwe, such as mining and construction,” the ministry said on its X account.
The company produces polyvinyl chloride (PVC), High-Density Polyethylene (HDPE), Low-density Polyethylene (LDPE) pipes and related fittings.
Online Reporter