News / National
Mugabe admits industry has collapsed, rallies SMEs
20 Feb 2017 at 06:13hrs | Views
PRESIDENT Robert Mugabe says the Zanu-PF government is now banking on small to medium enterprises (SMEs) for employment creation and economic recovery, following the collapse of most industries in the past two decades.
Addressing stakeholders attending an international research symposium in Harare on Friday, Mugabe said if Zimbabwe was to take a cue from the model used in China and India, the country could realise more benefits from the sector.
"With success stories having already been recorded around the globe in China and India, for example, there is no need to reinvent the wheel or to try to reinvent it on SMEs," he said.
"This is especially so given the sound relationship that exists between Zimbabwe and India, especially in the SMEs sector, information communication technologys education and pharmaceutical sector," he said.
Mugabe said Zimbabwe's future now rested on the informal sector following the closure of industries due to economic crisis that hit the country since the early 2000s. "The SMEs sector is the major contributor to the gross domestic product of the country. Currently, the SMEs sector employs more than 2,9 million people and the 2017 National Budget statement by the Finance and Economic Development minister highlighted over 50% of the country's labour force is to be found in this sector," he said. Mugabe challenged the Research Council of Zimbabwe (RCZ) to come up with technological ideas that would drive the country's industrialisation drive.
"Society looks up to you (RCZ) as a scientific community to come up with technological breakthroughs and innovations that will drive and underpin our national and regional industrialisation programmes."
"Advances in a relatively new knowledge disciplines such as nano technology, bio-technology, geo-informatics and remote settings should be applied to create new improved and diversifying industrial processes that will add value to our competitiveness, while tackling the theatrical challenges that are faced by our society," he said.
National Small Industries Corporations of India chairperson, Ravindra Nath, said SMEs in India employed 51 million people and contributed more than 7% to the economy.
Addressing stakeholders attending an international research symposium in Harare on Friday, Mugabe said if Zimbabwe was to take a cue from the model used in China and India, the country could realise more benefits from the sector.
"With success stories having already been recorded around the globe in China and India, for example, there is no need to reinvent the wheel or to try to reinvent it on SMEs," he said.
"This is especially so given the sound relationship that exists between Zimbabwe and India, especially in the SMEs sector, information communication technologys education and pharmaceutical sector," he said.
Mugabe said Zimbabwe's future now rested on the informal sector following the closure of industries due to economic crisis that hit the country since the early 2000s. "The SMEs sector is the major contributor to the gross domestic product of the country. Currently, the SMEs sector employs more than 2,9 million people and the 2017 National Budget statement by the Finance and Economic Development minister highlighted over 50% of the country's labour force is to be found in this sector," he said. Mugabe challenged the Research Council of Zimbabwe (RCZ) to come up with technological ideas that would drive the country's industrialisation drive.
"Society looks up to you (RCZ) as a scientific community to come up with technological breakthroughs and innovations that will drive and underpin our national and regional industrialisation programmes."
"Advances in a relatively new knowledge disciplines such as nano technology, bio-technology, geo-informatics and remote settings should be applied to create new improved and diversifying industrial processes that will add value to our competitiveness, while tackling the theatrical challenges that are faced by our society," he said.
National Small Industries Corporations of India chairperson, Ravindra Nath, said SMEs in India employed 51 million people and contributed more than 7% to the economy.
Source - newsday
