Vehicle imports crowd out domestic makers (NewsDay)
Zimbabwe has, over the past two years, imported over US$70 million worth of public buses and delivery trucks, draining the country of the much-needed foreign currency to the detriment of local manufacturers.
This is revealed in the country’s new five-year economic blueprint, the National Development Strategy One (NDS1) launched in Harare on Monday.
The document acknowledged that major vehicle manufacturing companies in Zimbabwe have idle capacity which can be used in the production of buses and delivery trucks, but that is not happening.
Comesa scales down 2021 budget to leverage on ICT (The Chronicle)
THE Common Market for Eastern and Southern Africa (Comesa) Secretariat has prepared a scaled-down budget for 2021 to leverage on information technology in carrying out its activities.
The decision was informed by the performance of this year’s budget, which recorded significant savings under meetings, workshops and conferences, which constitutes a significant percentage of the expenditure.
The adoption of virtual meetings was occasioned by the Covid-19 pandemic. The Secretariat now intends to continue harnessing the power of information technology through virtual meetings. In the proposed budget for 2021, which will be presented to the 41st meeting of the Council of Ministers tomorrow, the Secretariat proposes a reduction of at least US$1 million from the current budget.
Zim, UK launch trade deal – (The Herald)
The International Trade Centre (ITC) has hailed the New Dispensation for opening up the economy to international businesses whose contribution to the Zimbabwean economy has the potential to improve people’s lives.
Speaking at the launch of a Zimbabwe/United Kingdom Trade Partnership Programme which is poised to open market opportunities for Zimbabwean horticultural produce into the UK, ITC executive director Ms Pamela Coke-Hamilton said the partnership will have a positive impact on small holder farmers.