Gvt promoting export-led economic growth: ED

by Derick Tsimba

President Emerson Mnangagwa reiterated his administration’s commitment to facilitate processes and regulations that enhance and promote export-led economic growth.

Speaking at the official opening of the $30m state of the art Varun Beverages Bottling plant in Harare on Wednesday, the President encouraged the company which is producing Pepsi products under licence, to grow its export market into the region and beyond, using Zimbabwe as the production hub.

“We are implementing the Border Efficient Management Systems (BEMS) which seeks to transform our border posts into world class ports of entry, capable of efficiently facilitating the movement of goods and people. In addition, various reforms are under way to address other bottlenecks associated with export processes and procedures,” said the President.

The President also revealed that Varun’s investment was in sync with the country’s National Development Policy objectives and strategies, which seeks, among other issues, to re-equip, replace and modernize obsolete equipment and machinery in the county’s industries in line with new technologies that will ultimately increase the economies of scale and product competitiveness.

“It further resonates with the SADC Industrialization strategy, which seeks to develop the manufacturing sector using the value chain approach to enhance exports of value added products into the region and the rest of the world,” added the President.

The President urged the management and employees, in both private and public sectors, to shun corruption, dishonesty and pilfering tendencies, which reduce profitability of companies and sustainability of jobs.

“I equally urge all investors, local and foreign alike, to be good corporate citizens and care about the community within which they operate as well as the overall wellbeing, development and growth of our country as a whole,” said the President.

Speaking at the same event, the chairman of Varun’s parent company, RJ Corporation, Mr. Ravi Jaipuria said they were already looking forward expanding their investment into agriculture.

“Our main interest is potato farming where we intend to target 600 farmers, whom we will give resources to start the project,” said Mr. Jaipuria

Pepsi Zimbabwe General Manager Corporate Affairs, Mr. Fungai Murahwa said the commissioned plant currently employed 350 employees. He thanked Government for opening Zimbabwe for business and enabling investors to operate in a peaceful environment.