business meeting 20.09.10.jpgThe Business Council of Zimbabwe (BCZ) says there is need to channel more resources towards value addition in 2012 in an effort to increase the competitiveness of the country’s products and acceleration of economic growth.

BCZ, which expressed optimism of continued growth of the country’s economy and the attainment of the envisaged 9,4% growth rate, has called for support of value addition initiatives as a way of enhancing the attractiveness of the local products on the international market.

BCZ Chairman, Mr David Govere said apart from availing more credit lines and improving on the enabling business indictors, there is urgent need to embrace a value addition strategy.

Government has since prioritised value addition under the Industrial Development Policy and recently proposed to bar the export of unprocessed platinum as a way of compelling the platinum miners to set up refineries in the country.

Enhanced Consultant Chief Executive Officer, Mr Malvern Chimutashu said adoption of the value addition strategy has the potential to create more jobs for the country.

The country is currently losing billions of dollars in potential revenue by exporting unprocessed minerals and other agro-products.

It is against this background that observers and economic analysts have called for prioritisation of value addition strategy.