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THE New Dispensation has come up with a number of pieces of legislation meant to support the revival of local industry as well as promote consumption of local products.

At one time Government removed several commodities from the Open General Import Licence in order to protect local industry. What is encouraging is that the private sector is saying it is in full support of the Government’s local content policy.

The Confederation of Zimbabwe Industries (CZI) vice-president Mr Joseph Gunda said recently that Government should see to it that the local content policy which was unveiled last year, is implemented in order to create new jobs, boost local production and save the much-needed foreign currency being spent on imports.

Mr Gunda said it was unfortunate that the country depended on imports of a number of products that required a lot of foreign currency yet local industry has the capacity to produce the substitutes. “There are a number of imported products which are still finding access to the local market at the expense of local products,” said Mr Gunda.

He said Zimbabwe’s industry has the required machinery and expert labour to produce substitutes for most of the imported products. Mr Gunda said countries like India had successfully implemented local content policies hence India is now leading in pharmaceuticals, engineering, automotive and the ICT sectors.

He said implementing the local content policy will encourage companies to come up with innovative ideas knowing that the local market is there and that they can substitute imports.

Mr Gunda said contrary to common perception, local industry had the potential to produce at a much lower cost a number of basic commodities which are being imported.

He said what is obtaining now in the market whereby 60 percent of the products in the retail shops are imported, should not be allowed to continue.

Mr Gunda said industry was ready to suggest how production can be stimulated and to lead the process of change.

Government and industry are speaking one language so what is the stumbling block? We have said it before that Zimbabwe’s economy cannot grow from retailing imports which is what industry is also saying.

The country has to produce not just for local consumption but even surplus for export so that we earn the much- needed foreign currency. Government and Industry need to engage more and Government on its part must avoid procrastination in implementing the local content policy.

There is an urgent need to produce substitutes for most of the imported products and this is only possible if industry is capacitated in terms of resources for retooling and working capital.

Industry has said it has the capacity not just to produce substitutes for imports but also cheaply which means the prices of the locally produced products will be much cheaper compared to exports. The backbone of any country’s economy is an industry that does not just meet local market demand but produces surplus for exports.

We want to once again implore Government and Industry to engage more often and ensure bottlenecks or shortcomings impeding the speedy implementation of the local content policy are addressed.