Oliver Kazunga, Senior Business Reporter
THE Ministry of Industry and Commerce has aligned its five-year plan to the National Development Strategy 1 (NDS1), which is anchored on boosting productivity across different sectors of the economy.
NDS1 is a five-year Government economic blueprint spanning 2021 up to 2025 and is a major building bloc towards attaining an upper middle-income economy by 2030 where per capita income is expected to clock US$3,500.
In an interview Industry and Commerce Ministry Permanent Secretary, Dr Mavis Sibanda, said the National Industrialisation Development Policy (2019-2023) has since been aligned to NDS1.
In this light, she said Zimbabwe has managed to register a number of objectives underpinned by the implementation of the National Industrial Development Policy.
“The National Industrial Development Policy derives from Vision 2030 and is tailormade to assist the economy to achieve an upper middle income economy status,” she said.
“Through the National Industrialisation Policy, we have facilitated the creation of 10 new companies operating at different stages and some have diversified their lines of production.
“These include Mount Meru, which are 80 percent complete Barmore Investments, which is at 95 percent while G&W resumed operations in October 2021 and are set to produce 80 000 tonnes per annum of agriculture lime and stock feed,” she said.
Dr Sibanda said resources have also been availed for the refurbishment of the magnetite plant at Dorowa Minerals in Manicaland to double production to 2 000 tonnes per month.
Under NDS1, the Ministry of Industry and Commerce is expected to promote industrialisation and achieve national vision. Among other milestones so far achieved is the successful funding of the Industrial Development Corporation to the tune of $100 million and the registration of 4 406 companies in the reserved sectors as at October 15, 2021.
Against a background of successes registered by the Government since the beginning of the year, there has also been improved consumption of locally manufactured products, now at 65 percent. – @KazungaOliver