Value addition: Govt

The government has expressed its concern over the continued exportation of raw materials by local industries, a situation that is depriving the country of large sums of revenue.

Speaking in Bulawayo last week during the provincial launch of the Medium-Term Plan 2011-2015, Deputy Minister of Economic Planning and Investment Promotion Dr Samuel Undenge said it was high time the country exported finished goods produced from its raw materials.

“We should move away from exporting raw materials and do value addition,” said Dr Undenge.

The deputy minister added that by exporting raw materials the country would be exporting jobs and wealth to other countries.

“Economic experts say a raw material worth $1 will be worth 10 times more if it is value added,” he said.

The deputy minister challenged local industries to be innovative and come up with ways to maximise profits from their raw materials.

The MTP is Zimbabwe’s National Development Plan which responds to the mandate set out in Article III of the Global Political Agreement to support the restoration of economic stability and growth in Zimbabwe. The main objective of the MTP is to address local industry’s liquidity challenges, deindustrialisation and the electricity crisis in the country.

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