GOVERNMENT should amend archaic regulations and laws which hamper the growth of businesses and export expansion, the Zimbabwe local manufacturing export capacity survey has said.
Tarisai Mandizha
Currently, only 40% of local companies were currently exporting as the prevailing environment was not conducive for businesses to do so.
Speaking at the launch of the local export manufacturing capacity survey results in Harare recently, Africa Corporate Advisors executive director Mike Nyamazana said amendment of the policies which were no longer in line with the current economic and business realities would increase export growth.
“Government should also consider further domestic business policy deregulation that covers a review of statutes such as the Exchange Control Act, Labour Act to ensure their alignment with the current business operating regime and competition,” he said.
Nyamazana said the report proposes the amendment of the business laws that no longer serve the interest of the economy and the repeal of many of the laws that were meant to deal with situations in the country’s economic history which have long changed.
“There is now need to repeal and amend the laws to make them more business friendly. Business is no longer the enemy of the people, but the saviour of the people through employment creation,” he said.
However, Nyamazana said government should also reform and re-orient the business regulatory agencies such as the Reserve Bank of Zimbabwe, Zimbabwe Republic Police, Zimbabwe Revenue Authority and Immigration department.
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He said this would ensure such agencies refocus on business facilitative policy implementations.
“There is need to re-orient many of the institutions that administer the various laws to transform them into pro-business facilitation entities,” Nyamazana said.
According to the survey, most of the firms in the manufacturing sector are not currently exporting, and of those currently exporting, the export constitutes a very small percentage of the company’s total production.
“The firms indicated that once the government comes up with exports supporting policies, most firms will be able to increase their levels of exports as the capacity to do so is there,” Nyamazana said.
