Buy Zimbabwe optimistic to achieve 85 percent local content threshold in 3 years

By Owen Mandovha

The Government has taken a keen interest in the Buy Zimbabwe initiative with the focus on spearheading increased uptake and production of local products.

One of the key pillars of jobs creation and establishing foreign currency buffer is the local content policy which entails that all goods consumed by Zimbabweans should be produced locally.

The Ministry of Industry and Commerce administers that policy framework and this Wednesday it convened a virtual meeting with Buy Zimbabwe to outline the roadmap for successful policy implementation.

“As a Ministry the local content policy lies at the heart of the reindustrialisation drive of the economy. Our partnership with the private sector is also key to find ways of increasing the uptake and production of local products in the economy.”

Buy Zimbabwe Chairperson Mr Munyaradzi Hwengwere said the 25 percent local content is not anything to cheer about, hence the need to accelerate industrialisation.

” In the next three years, we aim to achieve local content of 80 percent from 25 percent. There is need for strategies including leveraging on the Africa Continental Free Trade Area agreement to enhance local opportunities.”

This year’s farming season is expected to boost the availability of agricultural raw materials for the manufacturing industry which will reduce imports.

The virtual meeting was attended by local content sub-committee chairpersons which is the private sector vehicle in partnership with government to achieve local production.

The post Buy Zimbabwe optimistic to achieve 85 percent local content threshold in 3 years appeared first on ZBC NEWS.

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