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Zimbabwe launches new industrial policy

The new industrial policy aims to accelerate business operations in the country. (Image source: John Murphy/Flickr)

Zimbabwe government has launched new industrial policy with an aim to transform the economy through value addition, increase employment levels and promote a culture of savings

As reported in The Herald, the Zimbabwe National Industrial Policy (ZNIDP) aims to ensure a conducive operating environment for the private sector businesses in the country.

In Addition, the ZNIDP is set to turn the manufacturing sector into a technologically-advanced and diversified industry by 2030.

Zimbabwe intends to facilitate and promote the development of inclusive and globally-competitive industrial and commercial enterprises for improved consumer welfare and economic growth, the source further added.

Industry and commerce minister Nqobizitha Mangaliso Ndlovu said that the country aims to attain a gross domestic savings rate of about 30 per cent of GDP, manufacturing value added growth of 16 per cent per annum, merchandise export growth rate of 10 per cent per annum and increase the manufacturing sector share of employment to 20 per cent in 2023, the source added.

Factors such as a stable macro-economic environment, policy consistency, value addition and beneficiation, upgrading and modernisation of industrial equipment and machinery and prioritisation of standards and quality infrastructure are set to guide the policy, according to the source.

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