By Claver Nyuki in Bulawayo
Minister of Industry and Commerce, Nqobizita M Ndlovu has reiterated Governments keen interest to foster an export-led economy in its drive to achieve His Excellency, President Mnangagwa's vision of a middle class economy by the year 2030.
Minister Ndlovu revealed this while addressing at the ZimTrade Exporters Conference yesterday in Bulawayo, which saw over 200 exporters from both local and international scene gracing the occasion.
"The presence of President Mnangagwa at this year's conference is testament that Government is very serious in its drive to foster export-led economic growth.
"The country's current growth trajectory is framed within the context of the Transitional Stabilisation Programme which has articulated several reforms underpinning our development agenda," he said.
Minister Ndlovu added that the success of the reforms rested on the country's ability to grow its exports.
"The success of these reforms hinges to a great extend on the country being able to grow its exports and particularly those of value added products," said the Minister.
Minister Ndlovu also said the country had experienced a surge in exports despite operating against the backdrop of many challenges including but not limited to drought and Cyclone Idai.
"Indeed we are experiencing a surge in exports by the manufacturing sector, note withstanding several challenges faced by all participants in the economy such as the recent drought, Cyclone Idai, and the illegal sanctions.
"Total manufacturing exports for the 6 months up to June 2019 were US $126.5 million, a positive indicator despite the mentioned challenges," he said.
Minister Ndlovu also revealed a couple of initiatives his Ministry was undertaking to consolidate President Mnangagwa's 2030 vision which include capacitating the Industrial Development Corporation of Zimbabwe (IDCZ) to become a Development Financial Institution (DFi).
He also revealed that his Ministry was working with the private sector to develop sector specific strategies while also developing Provincial Industrial Development strategies for all 10 provinces to crystallise Government devolution thrust and maximise the country’s export potential of all provinces.
