Home News Government Dealing With Bottlenecks Affecting Businesses: Chiwenga

Government Dealing With Bottlenecks Affecting Businesses: Chiwenga

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The government has committed to ensuring that any bottlenecks obstructing the business operating environment are dealt with decisively, Great Dyke News 24 reports.

Speaking during the Buy Zimbabwe, Buy Local Summit held in the capital yesterday, Vice President Constantino Chiwenga said the government has come up with interim measures aimed at promoting local industries in light of imported products which had taken centre stage in the past decade.

“Some of the measures include the removal of a number of locally produced goods from Open General Import Licence (OGIL) by way of gazetting statutory instruments, such as SI 122 of 2017 following recommendations and extensive consultations with industry and other key stakeholders.

” Indeed, the task of reviving the Local Industry augurs well with Buy Zimbabwe’s local initiative. You may recall before the promulgation of the aforementioned instruments, there was a massive displacement of locally produced goods from the market as a result of an influx of cheap imported products.

“In that regard, the Government is currently implementing the ease of doing business reforms which seek to improve the business operating environment thereby positively impacting on the country’s global competitiveness,” he said.

He added that the Government is in the process of rolling out and implementing the Consumer Protection Act (Chapter 14:14) which will complement the Competition Act (Chapter 14:28).

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“Competition and consumer protection policies are there to help nations achieve economic prosperity and improve the welfare of society. They also compel companies to operate effectively and efficiently, through innovation and production of high-quality goods and services at competitive prices,” he added.

The country still faces significant barriers towards a functioning market economy that is based on private sector-led growth.

These challenges include high levels of inflation, unsustainable and high external debt levels, and the effects of the multi-currency system on Zimbabwe’s export competitiveness and investment. Moreover, the growing informal sector faces significant challenges including lack of broader engagement of private capital investors which is limiting their capacity to progress and positively contribute to economic growth.

High levels of vulnerable employment and under-employment further exacerbate poverty with the majority of the labour force being employed in the informal economy and faced with a plethora of decent work deficits including poor wages, lack of social protection, voice and representation.

The Buy Local Summit and Made in Zimbabwe Expo follows the Buy Zimbabwe Week that ran from the 22 to the 26 of November 2021 with Buy Zimbabwe amplifying the message of buying local products and services in retail and wholesale outlets nationwide.

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