Online Reporter
Judith Phiri
THE Ministry of Industry and Commerce has signed a memorandum of understanding with the Zimbabwe-South Africa Business Chamber to bridge the gap between policy formulation and private sector execution.
Speaking during the signing ceremony in Harare on Wednesday, Industry and Commerce Minister Nqobizitha Mangaliso Ndlovu, said the partnership will catalyse economic transformation.
“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.
We recognise that for Zimbabwe to thrive, a collaborative approach between the public and private sectors is essential to achieving our goals,” he said.
He said his ministry was mandated to accelerate inclusive industrialisation and commercialisation programmes through the formulation and implementation of national development policies.
The minister said they could not achieve this in isolation and they need agile partners like ZIMSA, an organisation that facilitates connections and provides essential information for business people and investors interested in Zimbabwe and South Africa across various sectors.
He added: “Through this MoU, we are aligning our efforts to foster a strong business environment by creating a conducive regulatory framework and streamlining bureaucratic processes to improve efficiency.
‘‘We are also committed to promoting the growth and development of women, youth, and small and medium enterprises (SMEs) as key drivers of economic growth.”
Minister Ndlovu said they seek to enhance Zimbabwe’s global competitiveness by developing export-oriented industries and strengthening trade and investment relations with foreign countries.
He said to their partners at ZIMSA, the ministry undertakes to provide policy guidance and support while facilitating access to Government incentives and grants.
“We will work together to identify target markets, organise trade missions and promote foreign direct investment into Zimbabwe.
‘‘In return, ZIMSA will represent private sector interests in policy discussions and provide regular feedback on regulations affecting the business community.
“ZIMSA will also play a critical role in disseminating economic and business information, such as the ‘Zim News’ publication, to ensure members stay abreast of the latest developments,” he said.
The minister said that to oversee the implementation of this agreement, a Joint Coordinating Committee (JCC) will be established to meet quarterly to review progress and address challenges.
He said as they sign the MoU, they do so with the spirit of mutual accountability to build a competitive and industrialised Zimbabwe.
The ZimSA Business Chamber’s mandate is to foster business linkages and provide critical market intelligence to investors and entrepreneurs operating in or exploring opportunities in Zimbabwe and South Africa across multiple sectors.
