By Owen Mandovha
Zimbabwe’s local content strategy aimed at import substitution is set for further success as treasury avails more resources to the local manufacturing sector value chains
The 2022 National Budget did not disappoint the manufacturing sector as the Minister of Finance and Economic Development Professor Mthuli Ncube dedicated resources to harness local manufacturing value chains in line with the National Development Strategy One economic blueprint.
Buy Zimbabwe was equally elated by the provisions to enhance the local content policy to substitute imports which is key in increasing local manufacturing capacity.
“As Buy Zimbabwe we commend the steps which were taken to consolidate the local manufacturing value chains where the Minister clearly articulated the need to strengthen the local manufacturing synergies which had become broken for a long time,” Buy Zimbabwe Director Alois Burutsa noted.
Economic commentators applauded Treasury for coming up with a people-centred 2022 national budget that is set to preserve the gains registered so far as well as elevating the economic targets set out in the Vision 2030 economic aspirations.
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