GWERU – President Emmerson Mnangagwa has called on the Local Content project team to expedite formulation of the policy to promote the production and consumption of Zimbabwean products.
The Local Content Policy project team comprise of key institutions such as Buy Zimbabwe, Confederation of Zimbabwe Industry, Zimbabwe National Chamber of Commerce, the Ministry of Industry, Commerce and Enterprise Development, Retailers Associations, Consumer Council of Zimbabwe and the Ministry of Finance and Economic Planning, among others.
Mnangagwa, who spoke at the Buy Zimbabwe summit on Thursday, said implementation of Local Content requirements will present an opportunity for increased local production anchored on stimulating the development of local industry value and supply chains as well as promoting local linkages among the agricultural, extractive, and industrial and service sectors.
“Let us expedite the completion of the Local Content Policy as we seek to promote the production and consumption of locally produced products,” Mnangagwa said.
“Zimbabwe is a rich country and the implementation of the Local Content Policy can lead to job creation, boost investment and local production,” he added.
Speaking at the same summit, Industry, Commerce and Enterprise Development Minister Mike Bimha, reaffirmed Mnangagwa’s statement saying other countries like South Africa used the Local Content Policy to develop its industries.
“My ministry continues to engage the private sector on the finalisation of the Local Content policy and is currently receiving inputs towards a robust policy document that will help align local consumptive patterns to local industry capabilities,” Bimha said.
“I would like to exhort the Local Content Project team to expedite the finalisation of the policy formulation process so that we quickly start implementing.
“The Local Content Policy is part of government’s broad industrialisation of local resources and localisation of supply chains. In practical terms, local content implies local procurement by government and the private sector alike. Local procurement in turn should benefit the development of local entrepreneurs.”