Local firms are set for a major boost in terms of production following the decision by the government in removing export permits for all industrial commodities.
In terms of the latest Statutory Instrument 122 of 2017, various industrial commodity exports no longer require authorisation from the government.
Ease of doing business in Zimbabwe national coach Professor Ashok Chakravarti while confirming the development to the ZBC News on Tuesday said there is, however, need to widen the removal of export permits to key productive sectors of the economy such as some agricultural produce, horticultural commodities, mineral products among others.
“Indeed there is need to unlock value in terms of increasing value to the economy,” said Chakravati.
While the government has also reduced the period on the authorisation of export permits to a single day from 21 days, a businessman Dr Abel Mubango says the relaxation of export permits is important in increasing foreign direct investment inflows.
“There is now need to focus on the well-being of industries in the near future,” Dr Mubango said.
Concern is, however, being raised over the manufacturing industry’s contribution to overall export receipts that are currently accounting for only five percent yearly.