The construction industry has revived talks on the finalisation of the contractors bill which would be critical in addressing low entry barriers such as financing affecting local contractors.
The finalisation of the bill has stalled for many years, prompting industry leaders to revisit the policy and expedite its conclusion.
The Construction Industry Federation of Zimbabwe (CIFoZ) sees the completion of the bill as the pedestal to opening the industry to enhanced participation by external and internal investors.
In sync with this view are other leaders who convened in Harare for an interface with the parent ministry where the contractors bill topped the agenda.
The industry offers attracting opportunity for local contractors given that 70 percent of the construction material is available locally.
Zimbabwe can experience effective cost cuts if it utilises this leverage and implement projects that have a buy in from local contracts.
The current drive on road rehabilitation has exposed this potential with the Minister of Transport and Infrastructure Development promising to look at the challenges affecting the construction industry including the finalisation of the contractors bill.
Zimbabwe’s infrastructure needs in terms of road construction reflects a yawning gap estimated to require billions of dollars within the next decade for the Zimbabwe to become competitive and become a middle income economy by 2030.