By ZBC Reporter
The re-industrialisation of the country’s economy to achieve the 2023 $8billion industrial sector milestone received a major boost from the recently presented 2021 National Budget which outlined measures to resuscitate key sectors.
It is against this background that the Ministry of Industry and Commerce recently launched the US$8 billion Industry Sector Strategy by the year 2023 which is anchored on the resuscitation of key industrial sectors of the economy in line with the National Development Strategy 1.
Industry and Commerce Minister Dr Sekai Nzenza welcomed the rebates announced in the 2021 National Budget for the fertiliser and leather Industry as they will accelerate the revival of these two critical sectors.
“The Budget announced is going to be instrumental in supporting the fertiliser companies especially on the rebates that will incentivize fertiliser manufacturing companies by reducing production costs. The leather Industry remains a key priority sector for the country and the shoe manufacturers rebates will help leather producers to increase capacity,” she said.
Minister Nzenza also cited the critical support rendered by the budget towards rebuilding the steel Industry in view of Ziscosteel revival which lies at the heart of the economy.
“The process of identifying an investor is right underway and the budget has committed resources to harness industrial linkages in the steel industry,” she added.
The 2021 budget also went further to sustain the local content policy to reduce imports as well as job creation through new enterprise development
The post 2021 Budget measures to anchor re-industrialisation of the economy appeared first on ZBC NEWS.