Business / Local
Mujuru urges firms to invest in business technology
24 Oct 2013 at 12:36hrs | Views
Vice President Joice Mujuru has urged local firms to invest in relevant technologies to ensure improved productivity and quality of goods to take advantage of export opportunities in the region and beyond.
Mujuru's call comes after exports declined tremendously as the local manufacturing industry is struggling to compete regionally and internationally.
Zimbabwe exported goods worth US$3,8 billion last year.
Addressing stakeholders at the Zimtrade annual exporters conference, Vice President Mujuru told local industry to increase competitiveness on the regional market by investing in technologies and redefining business models.
She said government is addressing the prevailing liquidity and other constraints through the Zimbabwe Agenda for Sustainable Socio-Economic Transformation, which explores all means to access affordable sources of funding.
"I call upon the business sector to redefine its business models and adopt innovative strategies as a way to sustain competition.
"Our companies need to invest in relevant technologies in order to improve on productivity and quality of goods and services, and to take full advantage of export opportunities in the region and beyond," she said.
Zimtrade chief executive officer Sithembile Pilime said the local industry should exploit existing opportunities in the SADC and Comesa regional markets and called for urgent interventions from all stakeholders.
She said: "The current trend shows that the country is exporting jobs as in 1992 imports from South Africa stood at 14 percent, while it is currently standing at 68 percent by last year.
"As we strive to resuscitate the local industry there is need to look at where we have the competitive edge."
In a bid to stimulate economic stability, growth and the creation of employment, government came up with an economic blue-print dubbed the Zimbabwe Agenda for Sustainable Socio-Economic Transformation (ZIM-ASSET). The exporters' conference was being held under the theme: 'Value Chain Business Models: The Key to Export Competitiveness."
Mujuru's call comes after exports declined tremendously as the local manufacturing industry is struggling to compete regionally and internationally.
Zimbabwe exported goods worth US$3,8 billion last year.
Addressing stakeholders at the Zimtrade annual exporters conference, Vice President Mujuru told local industry to increase competitiveness on the regional market by investing in technologies and redefining business models.
She said government is addressing the prevailing liquidity and other constraints through the Zimbabwe Agenda for Sustainable Socio-Economic Transformation, which explores all means to access affordable sources of funding.
"Our companies need to invest in relevant technologies in order to improve on productivity and quality of goods and services, and to take full advantage of export opportunities in the region and beyond," she said.
Zimtrade chief executive officer Sithembile Pilime said the local industry should exploit existing opportunities in the SADC and Comesa regional markets and called for urgent interventions from all stakeholders.
She said: "The current trend shows that the country is exporting jobs as in 1992 imports from South Africa stood at 14 percent, while it is currently standing at 68 percent by last year.
"As we strive to resuscitate the local industry there is need to look at where we have the competitive edge."
In a bid to stimulate economic stability, growth and the creation of employment, government came up with an economic blue-print dubbed the Zimbabwe Agenda for Sustainable Socio-Economic Transformation (ZIM-ASSET). The exporters' conference was being held under the theme: 'Value Chain Business Models: The Key to Export Competitiveness."
Source - zbc
