Industry minister outlines plans

Industry minister outlines plans
Published: 11 September 2018 (278 Views)
New Minister of Industry and Commerce, Mr Mangaliso Ndlovu, plans to introduce a raft of measures including a "robust" industrialisation policy and removing bottlenecks so as to attract more investors.

Minister Ndlovu said this yesterday in an exclusive interview immediately after taking the oath of office at State House in Harare. His sentiments dovetail with President Emmerson Mnangagwa's aspirations of transforming the living standards of citizens and providing them with "decent jobs" to create a middle income economy by 2030.

Middle income economies have a gross national income per capita of between $1 026 to $12 475, according to the World Bank.

Zimbabwe's gross national income per capita was $910 as at last year.

"I cannot really disclose my plans for now but I am looking forward to having a robust industrialisation policy. I will review what's there," said Minister Ndlovu.

"I am looking forward to coming up with policies that are investor friendly, that are friendly to industry, (and) that are friendly to the economy because our focus is really that even in the manufacturing sector, we need to see capacity utilisation going upwards of 50 (percent), 60 (percent). "If you are north of 65 (percent) then you know that even those companies are profitable."

The 2017 Confederation of Zimbabwe Industries (CZI) manufacturing sector survey indicates that capacity utilisation in the manufacturing sector was 45,1 percent. It was a 2,3 percent decline from 47,4 percent, weighed down by high costs of production, and shortages of foreign currency, cash and raw materials.

Capacity utilisation in the manufacturing sector peaked at 57,2 percent in 2011, before retreating to 44,2 percent in 2012.

Capacity went further down to 39,6 percent in 2013 and 36,3 percent in 2014. The decline continued in 2015 when it hit 34,3 percent, amid indications that unrestrained imports of cheap products such as cooking oil and dairy products was taking a heavy toll on locally produced goods, which were deemed expensive due to high production costs.

This prompted the promulgation of Statutory Instrument 64 of 2018, which sought to restrict the importation of products that can be produced locally.

An industrialist and an academic in his own right, Minister Mangaliso, said Government will do everything in its power to address all bottlenecks hindering growth of industrial capacity. "I am also a bit worried about our competitiveness.

"We need to come up with strategies that can address that kind of challenge because we are not as competitive like we are right now (and) it means our trade balance will always remain constrained, it means we are not able to produce enough for exports and we are continuously importing more.

"So those are some of the areas we need to look into; how can our local industries be capacitated to have competitive products, to have a competitive economy.

"When we take those strides, we are even able to attract investors, domestic and foreign.

"So those are some of the issues, but like I said, at the moment, for me it is to familiarise with what's happening, what is there, where do we need to supplement, what programmes do we take on because since the new dispensation, we have seen strides being made," said Minister Ndlovu. He expressed optimism that President Mnangagwa's "Vision 2030" is achievable.

- the herald

Tags: Ndlovu, Minister, Trade,
 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Knox Mutizwa wins August Goal of the Month award

by kickoff | 05 November 2018 | 838 Views

BREAKING: Gandawa on the run

by Staff reporter | 05 November 2018 | 1612 Views

Econet cannot distribute Kwese TV content to Zimbabwean viewers

by Staff reporter | 05 November 2018 | 1228 Views

Shoot-out robbers arrested

by Staff reporter | 05 November 2018 | 1268 Views

Mnangagwa ally warns economic saboteurs

by Staff reporter | 05 November 2018 | 1223 Views

Chamisa mobilises supporters for mass protests

by Staff reporter | 05 November 2018 | 1013 Views

LISTEN: Acie Lumumba speaks on how he got paid

by Staff Reporter | 05 November 2018 | 836 Views

Dzamara speak on Zanu-PF fights

by Mandla Ndlovu | 05 November 2018 | 805 Views

Minister Raj Modi Modi donates salary

by Mandla Ndlovu | 05 November 2018 | 679 Views

'I am a Trillionaire' Magaya says

by Mandla Ndlovu | 05 November 2018 | 1081 Views

Supermarkets to be blacklisted over cooking oil

by Mandla Ndlovu | 05 November 2018 | 694 Views

UK army to recruit from Commonwealth

by BBC | 05 November 2018 | 740 Views

Magaya opens up on arrest

by Mandla Ndlovu | 05 November 2018 | 737 Views

Kambarami is still 'Deputy Mayor'

by Mandla Ndlovu | 05 November 2018 | 597 Views

'Import ban must not go beyond December 21'

by Staff reporter | 05 November 2018 | 688 Views

Prophet Magaya puts fresh spin to arrest

by Staff reporter | 05 November 2018 | 691 Views

Chamisa's sign language interpreters get thumps up

by Staff reporter | 05 November 2018 | 680 Views

Mnangagwa to review Mthuli Ncube's 2% tax again

by Staff reporter | 05 November 2018 | 651 Views

Lumumba to be probed by ZAAC?

by Staff reporter | 05 November 2018 | 481 Views

Dzamara speak on ZANU PF fights

by Mandla Ndlovu | 05 November 2018 | 443 Views

Zimbabwe as a new gateway into Africa

by Minister of Finance Prof Mthuli Ncube | 05 November 2018 | 659 Views

Chiwenga's ex-wife looted millions

by Mandla Ndlovu | 05 November 2018 | 1036 Views

We are our own worst enemies

by Mapozho Saruchera | 05 November 2018 | 715 Views

Mnangagwa to deal with unexplained wealth and bank deposits

by Staff reporter | 05 November 2018 | 670 Views

WATCH: Chiwenga talks about Prophet Walter Magaya's lipstick

by Staff reporter | 05 November 2018 | 659 Views

Lumumba Saga takes new twist....War vets bay for Mutsvangwa's blood

by Mandla Ndlovu | 05 November 2018 | 731 Views

Chamisa demands Presidency

by Mandla Ndlovu | 05 November 2018 | 622 Views

Zimbabwean teachers miss out on New Zealand opportunity

by Staff Writer | 05 November 2018 | 562 Views

Zimbabwe to introduce e-provisional driver's exams

by Staff reporter | 05 November 2018 | 610 Views

Zimbabwe to supply water to South Africa

by Staff reporter | 05 November 2018 | 607 Views

Mnangagwa claims that 'good times will soon roll'

by Staff reporter | 05 November 2018 | 577 Views

Zimbabwe as a new gateway into Africa

by Hon. Prof Mthuli Ncube | 05 November 2018 | 660 Views

Chiyangwa appoint Karikoga Kaseke

by Staff reporter | 05 November 2018 | 577 Views

ZCTU demo: Ruling today

by Staff reporter | 05 November 2018 | 529 Views

Missing cop found dead

by Staff reporter | 05 November 2018 | 656 Views

Tagwirei marries long-time girlfriend

by Staff reporter | 05 November 2018 | 1013 Views

Zimbabwe relaxes maternity leave entitlement

by Staff reporter | 05 November 2018 | 619 Views

Zimbabwe to receive drugs, ambulances from India

by Staff reporter | 05 November 2018 | 540 Views