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Zimbabwe commits ZiG550m to industrial growth plan
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The Zimbabwean government has committed ZiG$550 million to support the newly launched Zimbabwe Industrial Reconstruction and Growth Plan (ZIRGP), aimed at fostering growth opportunities in the manufacturing sector by lowering production costs and improving efficiency.
Speaking at a breakfast meeting in Harare yesterday, Rajeshkumar Modi, the Deputy Minister of Industry and Commerce, outlined the government's priorities under the National Development Strategy 1 (NDS1) framework. Modi emphasized that his ministry was leading efforts in the Moving Up the Value Chain and Structural Transformation thematic area, which focuses on enhancing manufacturing sector performance through value addition and beneficiation, particularly of agricultural and mineral resources.
"We are prioritizing 10 critical value chains, six of which are agro-based: cotton, dairy, fertiliser, leather, soya, and sugar. These value chains are essential to achieving structural transformation and industrialisation, which are key to our economic recovery and our vision of becoming an upper-middle-income society by 2030," Modi said.
The Deputy Minister also revealed that the 2025 national budget had allocated ZiG$550.9 million to the implementation of the ZIRGP, reflecting the government's strong commitment to industrial growth. An additional ZiG$100 million has been set aside for industrial development finance, which will facilitate retooling and provide working capital for new manufacturing projects.
Modi also addressed the impact of climate change on the manufacturing sector, urging companies to adopt sustainable practices and embrace a circular economy model to improve resource efficiency and minimize waste. "We live in a world where climate change is no longer a distant threat, but a current reality. As we strive to grow the manufacturing and commercial sectors, the resilience of these sectors is crucial, especially in today's unpredictable and dynamic business environment," he said.
The ZIRGP aims to strengthen Zimbabwe's manufacturing base, promote value addition, and create a more diversified economy by supporting key sectors like agriculture, which plays a central role in industrialisation. With government backing, the initiative is expected to drive industrial growth, foster job creation, and contribute significantly to the country's economic recovery.
As Zimbabwe works toward its 2030 goal, the ZIRGP's implementation marks a significant step toward improving industrial competitiveness, enhancing value chains, and achieving long-term sustainable economic growth.
Speaking at a breakfast meeting in Harare yesterday, Rajeshkumar Modi, the Deputy Minister of Industry and Commerce, outlined the government's priorities under the National Development Strategy 1 (NDS1) framework. Modi emphasized that his ministry was leading efforts in the Moving Up the Value Chain and Structural Transformation thematic area, which focuses on enhancing manufacturing sector performance through value addition and beneficiation, particularly of agricultural and mineral resources.
"We are prioritizing 10 critical value chains, six of which are agro-based: cotton, dairy, fertiliser, leather, soya, and sugar. These value chains are essential to achieving structural transformation and industrialisation, which are key to our economic recovery and our vision of becoming an upper-middle-income society by 2030," Modi said.
Modi also addressed the impact of climate change on the manufacturing sector, urging companies to adopt sustainable practices and embrace a circular economy model to improve resource efficiency and minimize waste. "We live in a world where climate change is no longer a distant threat, but a current reality. As we strive to grow the manufacturing and commercial sectors, the resilience of these sectors is crucial, especially in today's unpredictable and dynamic business environment," he said.
The ZIRGP aims to strengthen Zimbabwe's manufacturing base, promote value addition, and create a more diversified economy by supporting key sectors like agriculture, which plays a central role in industrialisation. With government backing, the initiative is expected to drive industrial growth, foster job creation, and contribute significantly to the country's economic recovery.
As Zimbabwe works toward its 2030 goal, the ZIRGP's implementation marks a significant step toward improving industrial competitiveness, enhancing value chains, and achieving long-term sustainable economic growth.
Source - newsday
