US$2bn Needed To Revive Manufacturing Sector

 

Confederation of Zimbabwe Industries (CZI) president Sifelani Jabangwe has said that about  US$2bn is needed to revive Zimbabwe’s manufacturing sector.

Said Jabangwe:

I think we need about US$2 billion. This will give us a very good start. It will be funding that will go towards working capital and it will also go towards companies that need to import equipment for purposes of retooling.

Jabangwe also highlighted that they quite happy with the announcement of a new cabinet.

Said Jabangwe:

The vision has already been given by his Excellency, which is to make Zimbabwe a middle-income economy by 2030. From our own calculations, it requires a 9% growth rate per annum in order to achieve this. This requires that we accelerate the pace at which the economy is currently operating. Currently the economy for 2018 is expected to range between 4,5 and 6%. What we need is 9%. What this means is that the appointed Cabinet must accelerate all issues to do with the ease of doing business and issues of investment promotion to ensure that they speed up economic growth.

More : Zimbabwe Independent 

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