SADC ratifies protocol on industry

by | Mar 20, 2024 | Business, International, Local News | 0 comments

SADC ratifies protocol on industry

Nevanji Munyaradzi Chiondegwa

 

Zimbabwean government has ratified the Memorandum on the Ratification of the SADC Protocol on Industry, a cabinet Minister has said.

While addressing a post media Cabinet briefing yesterday, Dr Jenfan Muswere, The Minister of Information, Publicity and Broadcasting Services said, “Cabinet considered and approved the Memorandum on the Ratification of the SADC Protocol on Industry, which was presented by the Minister of Justice, Legal and Parliamentary Affairs, Hon. Ziyambi Ziyambi as Chairperson of the Cabinet Committee on Legislation.”

He said that the SADC Industrialization Strategy and Roadmap (2015-2063) which was created in 2018 was approved. The SADC Protocol on Industry is anchored on regional cooperation on industrialization through developing prioritized regional value chains, promoting the development of Small and Medium Enterprises, and creating joint industrial enterprises, among other aspects.

Dr Muswere said, “The nation is further informed that 16 SADC Member States including Zimbabwe signed the SADC Protocol on Industry, which will enter into force 30 days after two-thirds of the Member States have deposited their instruments of ratification.”

He further said, “Cabinet wishes to inform the nation that ratification of the Protocol will unlock significant economic opportunities for Zimbabwe through collaboration, resource access and increased investment in vital areas such as research, infrastructure and Small to Medium Enterprises.”