Growing investment in the private sector must lead economic growth and boost exports with Government prepared to make informed decisions and robust polices that address challenges faced by industry, President Mnangagwa said yesterday.
Backing his words, the President yesterday toured two
manufacturing companies, Twine and Cordage (Private) Limited in Southerton,
Harare, and Saint Gobain Construction Products Zimbabwe in Msasa where German
and French investors are tied into Zimbabwean industries, boosting manufacturing
capacity and quality, and thus able to push exports into Africa and beyond.
Consequently, this fulfils both their own company visions
and Government policy as Zimbabwe upgrades its manufacturing base.
The President noted the rising foreign investment in the
two companies as a sign of growing confidence in Zimbabwe and national
policies.
Saint Gobain manufactures lightweight building materials
and rhino board for lining applications and tile adhesive, among other
products. The Zimbabwean operations were founded in 1959 as Gypsum Industries.
Twine and Cordage is a diversified company that produces
value added cotton yarns, cords and synthetic polymer products, tobacco twines
(used for hanging tobacco during curing), and fishing nets, among others.
Speaking after the tour at Twine and Cordage, President
Mnangagwa said his administration remained committed to facilitating increased
production, productivity and profitability of entities across all sectors of
the economy.
“We equally envision more Zimbabwean companies creating
top-notch goods and services that can successfully penetrate international
markets and associated value chains,” he said.
The company exports to South Africa, the United Kingdom and
Canada, among others.
President Mnangagwa said the African Continental Free Trade Area (AfCFTA) provides an opportunity for local companies to penetrate continental markets and challenged Twine and Cordage to increase its products range and take advantage of the treaty.
Measures adopted under the Transitional Stabilisation Programme and the foreign currency auctions had brought macro-economic and price stability and improved availability of locally produced goods.
President Mnangagwa said Government was already crafting
the National Development Strategy-1, a successor programme to the TSP that will
run from 2021 to 2025 and will consolidate the gains.
In light of the World Trade Organisation rules, ways are being pursued to promote industrial growth through the local content policy. This will consolidate the benefits associated with backward and forward integration by encouraging the use of locally available raw materials. Under the Second Republic, we will not perpetuate the culture of sundry importation of products which can be produced locally,” he said.
Government, said the President, would continue supporting cotton production through the Presidential Input Support Scheme while the Cotton-to-Clothing Strategy, which is part of the Zimbabwe National Development Policy, would be speeded up.
“I am informed that this company (Twine and Cordage) is a beneficiary of Government’s import substitution policy. Your availability, growth and profitability will undoubtedly contribute to lifting the standards of living of our populace and the achievement of development which leaves no one behind,” said President Mnangagwa.
The company’s sales director Mr Salie Khan thanked the Government for the policies implemented to support industry and called for more incentives that include subsidised fuel for exporters, reliable supply of electricity and increased access to foreign currency.
At Saint Gobain, President Mnangagwa said the construction
industry and the built environment was an important indicator of the levels of
investment and economic activity within any country.
“It is most commendable that Saint Gobain Construction
Products Zimbabwe has consistently invested in Zimbabwe. Its growth target and
resultant continuous expansion attests to the confidence that the company has
in the development potential of Zimbabwe.
“The company expanded its product range as well as the use
of latest state-of-the-art technology and equipment. This has resulted in
increased production and productivity capacities of the entity thereby
contributing towards the modernisation and industrialisation of our economy
with regards to competitiveness of our construction industry and related value
chain industries.
“My administration has put in place plans to grow exports
by US$7 billion by the year 2023,” he said.
President Mnangagwa said he was confident that the National
Trade Policy, aimed at growing exports to US$7 billion 2023, would be a
reality.
He urged other companies to emulate Saint Gobain’s work
with international investment partners to access foreign capital, appropriate
technology and skills.
President Mnangagwa applauded the company for its efforts
in empowering youths through skills transfer, especially at Danhiko Secondary
School, Msasa Vocational Training and Kushinga Pikelela, among others.
Industry and Commerce Minister Dr Sekai Nzenza said Saint
Gobain had shown a commitment towards the attainment of Vision 2030 and was
positively contributing to Zimbabwe’s industrialisation agenda.
Saint Gobain chief executive Mr Jean Claude Lasserre, said they were committed to continue investing in Zimbabwe, producing for the local and export markets. Herald
0 comments:
Post a Comment