News / National
Zimbabwe urged to bolster R&D and Resilience in move toward NDS2
12 hrs ago | Views
Zimbabwe's economy could take a major leap forward - if it boosts research, innovation, and industrial resilience, experts say. The Zimbabwe Competitiveness Report has sparked calls for all sectors to invest in smarter strategies as the country prepares to move from National Development Strategy 1 (NDS1) to NDS2.
Speaking at the report's launch, Honourable Clemence Chiduwa, Chair of the Parliamentary Portfolio Committee on Industry and Commerce, said stronger performance in areas like technology and community inclusion is essential.
"One striking finding is Zimbabwe's low ranking on industrial resilience. We should treat that as a wake-up call and urgently strengthen our industries," Chiduwa said.
A key challenge? The country's low investment in research and development (R&D). UNESCO guidelines recommend dedicating 1% of GDP to R&D, but Zimbabwe is falling short.
"This shortfall is holding us back. If we want to compete, we need to put serious effort - and money - into innovation," he stressed.
The report also highlighted Zimbabwe's heavy tax burden, with 51 different taxes affecting local companies. By comparison, South Africa has just 7. Chiduwa called for harmonising these regulatory hurdles to reduce costs and encourage growth.
As Zimbabwe shifts focus to NDS2, Chiduwa said the new phase should center around value addition and building local supply chains - strategies that could significantly boost GDP and create jobs.
Speaking at the report's launch, Honourable Clemence Chiduwa, Chair of the Parliamentary Portfolio Committee on Industry and Commerce, said stronger performance in areas like technology and community inclusion is essential.
"One striking finding is Zimbabwe's low ranking on industrial resilience. We should treat that as a wake-up call and urgently strengthen our industries," Chiduwa said.
A key challenge? The country's low investment in research and development (R&D). UNESCO guidelines recommend dedicating 1% of GDP to R&D, but Zimbabwe is falling short.
"This shortfall is holding us back. If we want to compete, we need to put serious effort - and money - into innovation," he stressed.
The report also highlighted Zimbabwe's heavy tax burden, with 51 different taxes affecting local companies. By comparison, South Africa has just 7. Chiduwa called for harmonising these regulatory hurdles to reduce costs and encourage growth.
As Zimbabwe shifts focus to NDS2, Chiduwa said the new phase should center around value addition and building local supply chains - strategies that could significantly boost GDP and create jobs.
Source - Byo24News
