Minister optimistic industry is on its way to recovery

The deputy Minister of Industry and Commerce Chiratidzo Mabuwa is optimistic that the country is on its way to recovery citing that the food and beverage industry is now operating at nearly full capacity.

Responding to a question from Senator Misheck Marava yesterday about the continued closure of companies in Mutare and Bulawayo, Mabuwa said the government was aware of the downward trend and that was why it had come up with the Zimbabwe Agenda for Sustainable Socio-Economic Transformation.

Opposition leader Morgan Tsvangirai said last week 700 companies had closed down since last year’s elections and the situation was getting worse.

Acknowledging the closures, Mabuwa said people could only talk about resuscitation when they realised that something was on the downward trend.

“The downward trend whilst it is acknowledged, we are also recording an upward trend, especially on some of the industries that I could give. For example, the food and beverage industry is operating at nearly 100% capacity,” she said.

“I am responding now to as to whether I foresee a time when we are going to experience an upward trend. You will notice that we have already reported big achievements, just singling out the current state visit by the Head of State in China. Many deals have been closed that are going to see and record very much an upward trend in various industries across the spectrum of our economy.”

Q & A:

*SENATOR MARAVA: Thank you Madam President. My question goes to the Minister of Industry and Commerce, Hon. Minister Mabuwa. Minister there is a very fast general downward trend of industry in Zimbabwe both heavy and light industry as signified by what happened in Mutare, Bulawayo most recently. Large companies closed, some of them last week. Minister do you foresee a time when this graph might pick again and if so how? Thank you.

THE DEPUTY MINISTER OF INDUSTRY AND COMMERCE (MS. MABUWA): Thank you Madam President. I wish to thank the hon. Senator for this question regarding the state of industry in Zimbabwe which he rightly said whether light or heavy industry, is showing a downward trend at the moment.

Indeed, as you will notice the Government acknowledges this downward trend in the ZIM ASSET. When a priority to resuscitate industry is one of those and resuscitation can only come to something that is not well. The downward trend whilst it is acknowledged, we are also recording an upward trend, especially on some of the industries that I could give. For example, the food and beverage industry is operating at nearly 100% capacity. Wanting to borrow from what the hon. Minister of Legal Affairs responded to in answer to some similar questions yesterday in the National Assembly and it is well covered in today’s Herald. I am responding now to as to whether I foresee a time when we are going to experience an upward trend. You will notice that we have already reported big achievements, just singling out the current statevisit by the Head of State in China. Many deals have been closed that are going to see and record very much an upward trend in various industries across the spectrum of our economy. Thank you. – [HON. SENATORS: Hear, hear.]-

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