President Emmerson Mnangagwa has hailed the Zimbabwe International Trade Fair (ZITF) as a platform that mirrors Zimbabwean industries and fosters economic growth.
Officially opening the 59th edition of the showcase, President Mnangagwa acknowledged the positive impact attributable to the fair, as it breeds interlinkages across various sectors.
“ZITF is a showcase of the entire economic spectrum from production stage to marketing of a wide range of products in manufacturing, mining, agriculture, ICT, tourism, infrastructure and energy among others. This fair therefore, fosters inclusive and an all-encompassing perspective to the economy in general, as it embraces and enhances interconnected linkages between the various sectors of the economy.
“The annual premier event bring together industrialists, traders and potential investors from within Zimbabwe, across Africa and the rest of the world for business networking and exploration of trade and investment opportunities,” he said.
Running under the theme: Sustainable Industrial Development – Inclusive, Competitive, Collaborative; the showcase registered an exponential increase in exhibitor numbers, resulting in record space occupancy of 110%. Mnangagwa said the show’s theme resonates well with government’s thrust which prioritizes industrialization and modernization, as sustainable models for economic growth.
“On the domestic front, mechanisms are in place to support the resuscitation, retooling, expansion and modernization of various industries, through fiscal and monetary incentives. My administration recognizes the need for a comprehensive approach to attract domestic and foreign investment in the quest to leapfrog our economy to be one of the most industrialized economies by 2030. Government is therefore implementing a plethora of reform measures to increase the viability and competitiveness of business across all sectors. Zimbabwe is open for business in every sector, in every sphere, we really mean business,” he said.
The President challenged local industries to spearhead economic growth by producing quality goods that can be competitive on the global market.
“Viable industrialization strategies are fundamental for value addition and beneficiation of our natural and homegrown recourses. I therefore, exhort all players in industry and commerce to produce quality goods, increase industrial capacity utilization, think outside the box, innovate and use technology as well as appropriate solutions to reduce productivity costs and enhance product competitiveness. Industry must adopt viable policies and business strategies which foster export led economic growth. I further call upon industries to establish business linkages with SME’s towards increased collaboration and more inclusive economic growth,” he said.
He added that government continues to take bold steps aimed at reforming various parastatals to ensure that they contribute to the inclusive growth of the economy by lowering the cost of doing business and enhancing overall business convenience.