Zimbabwe eyes US$3 billion import-substitution opportunity as manufacturing sector rebounds

VICTORIA FALLS, ZIMBABWE – Zimbabwe imports approximately US$3 billion worth of goods that could be produced domestically, Industry and Commerce minister Nqobizitha Mangaliso Ndhlovu has disclosed.

Addressing delegates at the week-long Tripartite Negotiating Forum Global Summit inVictoria Falls, Ndhlovu outlined Zimbabwe’s drive to shift from exporting unprocessed raw materials toward local processing, refining, manufacturing and higher-value industrial production.

The inaugural summit ending Friday has drawn more than 1,000 delegates from over 15 countries, including government officials, business leaders, labour representatives, investors, development partners and academics.

This story is for NewsDay subscribers.