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Message: [QUOTE="Nehanda, post: 24326, member: 2262"] New Industrial Policy Garners Strong Business Support. Zimbabwe's business leaders back the upcoming Zimbabwe National Industrial Development Policy 2 (ZNIDP2). The policy aims to boost economic growth from 2026 to 2030. The new policy builds on the success of the National Development Strategy 1 (NDS1), which exceeded some key targets. ZNIDP2 seeks to expand industrialization efforts and make Zimbabwe a regional manufacturing hub. The government focuses on private sector-led industrialization. Businesses are actively involved in developing ZNIDP2. The policy is set to launch in November. "We are fully committed to providing input for the policy," said Mike Kamungeremu, a Harare industrialist. The launch was delayed to allow for more input. ZNIDP2 replaces the previous five-year plan that ended in 2023. The policy's main goal is to boost production. It aims to industrialize and modernize manufacturing, attract investment, and increase exports. The government wants to enable more projects, expand exports, and build on recent manufacturing gains. ZNIDP2 targets over 3% annual growth in manufacturing projects. It aims to increase manufacturing value added (MVA) to 20% of GDP. It seeks a 10% annual export increase and a rise in manufacturing jobs to 20% by 2030. The Confederation of Zimbabwe Industries (CZI) says the policy should focus on practical measures that address industry challenges and foster growth. Tax incentives are a key focus of ZNIDP2. Experts believe they can speed up industrial expansion. Tax specialist Susan Hamandishe stressed the need for effective implementation and support for the incentives. Zimbabwe's manufacturing sector has seen a big rebound. Capacity utilization doubled from 36.4% in 2020 to 66% in 2022. Locally made goods now capture 80% of the market share. This shows a strong revival of domestic industry. These achievements provide a solid foundation for the next phase of Zimbabwe's economic transformation under ZNIDP2 and NDS2. The government has approved a roadmap for NDS2 (2026-2030). It prioritizes industrial modernization, innovation, climate change action, and inclusive growth. ZNIDP2 and NDS2 are expected to unlock new opportunities in manufacturing, agriculture, and exports, helping Zimbabwe strengthen its regional economic position. The government also introduced the Zimbabwe Industrial Reconstruction and Growth Plan (ZIRGP) 2024-25. This transitional plan addresses challenges in manufacturing and commerce. It aligns with NDS1 and sets a path for developing NDS2 and ZNIDP2. [/QUOTE]

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