The Confederation of Zimbabwe Industries (CZI) believes the industrial capacity utilisation will increase this year owing to the Statutory Instrument 64 of 2016 which has seen most sectors recording beyond 80 percent capacity utilisation.
Investigations by ZBC News revealed that more manufacturing firms have set up shop locally while indigenous people have been encouraged to invest millions of dollars in manufacturing plants.
Boasting of over 47 percent industrial capacity utilisation last year, hopes are high that with the obtaining situation the figures can increase this year.
With more than 10 firms having already opened shop locally in response to the SI 64, while already existing firms having reached 100 percent industrial capacity utilisation, especially those in oil industry, the growth of the sector is guaranteed.
SI 64 was introduced in July last year with a view to restrict importation of products that are manufactured locally while giving existing companies time to recapitalise their operations to become competitive on the international market.
Figures from government of the successes of the statutory instrument are there for everyone to see and the Minister of Industry and Commerce Dr Mike Bimha is excited about the milestone achieved by the policy measure.
The number of companies that have set up shop locally is expected to increase as government is mulling the introduction of the local content policy which will complement the SI 64 of 2016.