The local manufacturing sector has failed to attain the envisaged level of investment owing to lack of proper communication strategy, obtaining utility costs and the high cost of money which has restricted borrowing.
The manufacturing industry continues to grapple with various challenges that have affected the growth of the sector as well as attracting foreign direct investment (FDI).
The bottlenecks in addressing the ease of doing business reforms have also affected the performance of the economy while at the same time impacting negatively on the implementation of the special economic zones.
The manufacturing sector has been on a growth path in industrial capacity utilisation terms though other capacities have failed the sector to realise inclusive growth.
Some of the challenges are related to obsolete equipment, operating environment, unavailability of cash and lack of a clear communication strategy.
Zimbabwe National Chamber of Commerce (ZNCC) CEO, Mr Christopher Mugaga said some of the challenges include power tariffs which put the economy on the high side, hence affecting investment inflows.
The completion of the ease of doing business reforms is key towards the attainment of the projected investment figures.
Without addressing some of the challenges that continue to affect the local economy, it will be difficult for the nation to attract substantial investment.