The Sunday Mail
Online Reporter
ZIMBABWE needs to reduce reliance on imports and external currencies to grow its economy and save and create jobs, lobby group Buy Zimbabwe has said.
Buy Zimbabwe general manager Mr Alois Burutsa said his organisation welcomes Government’s recent interventions to reduce inflation and stabilise the local currency.
“While we welcome the intervention by the Government, we urge for acceleration of local content measures aimed at reducing reliance on imports and external currencies,” he said in a statement.
Zimbabwe’s manufacturing sector has recorded impressive growth in capacity utilisation, which currently stands at 65 percent.
Mr Burutsa said for real impact on wealth and job creation, there is urgent need to ensure that local value used by key sectors of the economy is increased.
“As part of the measures to grow the economy, create and save jobs, the Government has to urgently put in place measures that include tax breaks, preferences to the auction market and public procurement to companies whose goods and services have a minimum local content of 50 percent.”
