Formulation of strategies to deal with declining capacity, antiquated machinery and lack of competitiveness is set to dominate deliberation at the 2nd edition of the equipment manufacturers symposium to be co-hosted by Confederation of Zimbabwe Industries (CZI) and the Zimbabwe International Trade Fair (ZITF).

The country’s industry body CZI says it is concerned with the threat to the nation’s industrial base owing to antiquated machinery and lack of competitiveness.

CZI marketing manager Mr Kudakwashe Matare says with a view to develop practical ideas and solutions to retooling and access to finance the industry representative body and the ZITF will host the 2nd edition of original equipment manufacturers symposium on the 27th of this month in Bulawayo.

Bringing together equipment manufacturers, industry and financiers the gathering will see participants deliberating on regional financial options for supporting value chains and re-tooling of the local manufacturing sector.

The obtaining old machinery has made domestic products uncompetitive in terms of quality and pricing due to the cost of using old and less efficient equipment in production