Business / Economy
Zimbabwe Industrial Reconstruction and Growth Plan launched
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The Zimbabwe Industrial Reconstruction and Growth Plan (ZIRGP) has been officially launched, marking a critical step toward revitalizing the country's economy through local procurement and enhanced mineral beneficiation.
The launch event, held in Harare, yesterday, was led by Deputy Minister of Industry and Commerce Raj Modi, who emphasized the need for updated industrial policies aligned with national development goals.
Deputy Minister Modi explained that the ZIRGP serves as a transitional framework, filling the gap left by the expired Zimbabwe Industrial Development Policy.
He added that the Plan was designed to align seamlessly with the upcoming National Development Strategy 2 (2026-2030).
"This plan targets key challenges in manufacturing and policy sectors to promote economic recovery and industrialisation," he stated.
To facilitate its implementation, ZIG550.9 million has been allocated, with ZIG100 million specifically set aside for industrial development financing and working capital for new projects.
Additionally, to support local production, Government has suspended duties on inputs used in the motor vehicle industry, a move Deputy Minister Modi described as pivotal to rejuvenating the country's automotive sector.
"Sustainable manufacturing practices will enhance resource efficiency and minimise waste," he added, urging collaboration among stakeholders to ensure the plan's success.
Harare Metropolitan Provincial Affairs and Devolution Minister Charles Tawengwa lauded the ZIRGP as a transformative blueprint for economic progress.
"The ZIRGP is not just a roadmap; it represents an opportunity to transform aspirations into tangible progress, improving the quality of life for every resident of Harare. The plan introduces innovative strategies to modernize Zimbabwe's industries, including promoting value-added production to meet both domestic and international demand. It prioritizes technological innovation, driven by research and development, and embraces digitalisation to enhance productivity," he said.
A key pillar of the ZIRGP is the empowerment of small and medium-sized enterprises (SMEs) through financial support, resources, and tools to stimulate job creation and economic activity.
The ZIRGP's comprehensive approach positions it as a cornerstone for Zimbabwe's industrial resurgence, fostering resilience against global challenges and climate change while paving the way for sustainable growth.
The launch event, held in Harare, yesterday, was led by Deputy Minister of Industry and Commerce Raj Modi, who emphasized the need for updated industrial policies aligned with national development goals.
Deputy Minister Modi explained that the ZIRGP serves as a transitional framework, filling the gap left by the expired Zimbabwe Industrial Development Policy.
He added that the Plan was designed to align seamlessly with the upcoming National Development Strategy 2 (2026-2030).
"This plan targets key challenges in manufacturing and policy sectors to promote economic recovery and industrialisation," he stated.
To facilitate its implementation, ZIG550.9 million has been allocated, with ZIG100 million specifically set aside for industrial development financing and working capital for new projects.
Additionally, to support local production, Government has suspended duties on inputs used in the motor vehicle industry, a move Deputy Minister Modi described as pivotal to rejuvenating the country's automotive sector.
"Sustainable manufacturing practices will enhance resource efficiency and minimise waste," he added, urging collaboration among stakeholders to ensure the plan's success.
Harare Metropolitan Provincial Affairs and Devolution Minister Charles Tawengwa lauded the ZIRGP as a transformative blueprint for economic progress.
"The ZIRGP is not just a roadmap; it represents an opportunity to transform aspirations into tangible progress, improving the quality of life for every resident of Harare. The plan introduces innovative strategies to modernize Zimbabwe's industries, including promoting value-added production to meet both domestic and international demand. It prioritizes technological innovation, driven by research and development, and embraces digitalisation to enhance productivity," he said.
A key pillar of the ZIRGP is the empowerment of small and medium-sized enterprises (SMEs) through financial support, resources, and tools to stimulate job creation and economic activity.
The ZIRGP's comprehensive approach positions it as a cornerstone for Zimbabwe's industrial resurgence, fostering resilience against global challenges and climate change while paving the way for sustainable growth.
Source - Byo24News
