Import substitution scheme starts paying dividends

The Import Substitution and Industrialisation Strategy (ISIS) being implemented by Government has resulted in positive gains in the health and agriculture sectors, Industry and Commerce Minister Dr Sekai Nzenza has said. Dr Nzenza said this last week during a panel discussion held in Niamey, Niger on how African countries can benefit from ISIS, regional value chains and intra-African trade on the sidelines of the AU’s high level policy dialogue on import substitution and industrialisation. Zimbabwe is pursuing both the Import Substitution and the Export Orientated Industrialisation strategies as espoused in the country Zimbabwe’s National Industrial Development Policy (2019-2023). lady gaga nude curvylilyx “In Zimbabwe, the ISI strategy has helped us to increase self-sufficiency in some selected areas of the manufacturing industry. A good case is the local supply of PPEs and COVID-19-related drugs. The rising demand and closure of borders when COVID started, stimulated innovations and diversification by private companies, SMEs, and tertiary institutions. “Through import substitution and industrialisation, we have also witnessed industrial restructuring and innovative products which were previously imported and these include, tick Glgrease, grain protectants, cough syrups and water treatment chemicals. “This policy framework is also buttressed by the Zimbabwe Local Content Strategy, which seeks to promote the domestic utilisation of local resources,” she said. Dr Nzenza said the ISIS is meant to improve local production and productivity, create employment, generate foreign currency and protect and incubate newly formed domestic industries. Government has also adopted a five-year fertiliser import substitution roadmap, aimed at luring new investments that can exploit the existing idle processing capacity in the fertiliser value chain. “Through the Zimbabwe National Industrial Development Policy, we are also pursuing an industrialisation path that is centred on the export development of high valued manufactured products in order to ensure a healthy Balance of Payments position,” Dr Nzenza added. The National Export Strategy (2019-2023) and the National Trade Policy (2019-2023), target to growexports by 10 percent per annum while Government is also aggressively pursuing the export of services such as education, health, tourism, financial services, and ICT.