Industrial reconstruction plan to stimulate economy

Mutsawashe Mashandure

Herald Correspondent

The Zimbabwe Industrial Reconstruction and Growth Plan (ZIRGP) has been launched to stimulate the domestic economy by promoting local procurement and enhancing mineral beneficiation.

Deputy Minister of Industry and Commerce, Raj Modi told stakeholders during the launch in Harare that there was need to revise industrial policies as the year came to an end.

Deputy Minister Modi noted that the previous Zimbabwe Industrial Development Policy had expired and to align the new policy with the upcoming National Development Strategy 2 (2026-2030), a transitional plan had thus been adopted.

“This plan targets key challenges in manufacturing and policy sectors to promote economic recovery and industrialisation,” he said, highlighting the commitment to addressing critical issues and underlying policy concerns.

The ZIRGP builds on previous policies and aligns with the forthcoming development strategy for 2026 to 2030.

Deputy Minister Modi announced that ZIG550.9 million had been allocated to support the implementation of the ZIRGP, with ZIG100 million specifically earmarked for industrial development financing and working capital for greenfield projects.

To boost local production, Government has suspended duties on inputs used in the motor vehicle industry.

“This move is essential for revitalising our local automotive sector,” he said, adding that sustainable manufacturing practices would enhance resource efficiency and minimise waste.

He called for collaboration among stakeholders to ensure the ZIRGP’s success, stressing the importance of navigating climate change and global market dynamics to build a resilient industrial sector.

Harare Metropolitan Provincial Affairs and Devolution Minister Charles Tawengwa said the ZIRGP presents an opportunity for transformation.

“The ZIRGP is not just a roadmap, it represents an opportunity to transform aspirations into tangible progress, improving the quality of life for every resident of Harare,” he said.

He highlighted that the plan offers a groundbreaking approach to revamp the manufacturing industry and foster technological innovation.

 “It aims to produce value-added goods that meet domestic and international demand. It also entails driving innovation through research and development while embracing digitalisation to modernise industries and enhance productivity. Empowering SMEs by providing the necessary tools, resources, and financial support will enable small businesses to thrive, creating jobs and stimulating economic activity,” said Minister Tawengwa.

The plan focuses on producing value-added goods that meet both domestic and international demand while driving innovation through research and development. It also aims to empower small and medium-sized enterprises by providing essential tools, resources, and financial support to stimulate economic activity.