Bulawayo seeks to attract more investors in timber and steel sectors
Bulawayo is working to create a conducive environment for investment in the timber and steel sectors, according to Devolution Permanent Secretary, Paul Nyoni, who was representing Minister of State and Provincial Affairs, Judith Ncube.
Nyoni said this while speaking to the media on the sidelines of a conference on Wednesday, where he shared the opportunities and challenges facing the province in reindustrializing its economy.
He said that Bulawayo is ready to welcome more investors who are interested in tapping into its potential and opportunities.
Open for Business
“We are open for business. We are ready to work with anyone who wants to work with us. We have a lot of potential. We have a lot of opportunities. We have a lot of resources. We just need to harness them and make them work for us,” he said.
He said that one of the key issues that emerged from the conference was the need for more information and linkages between potential investors and existing players in the timber and steel industries.
“What we need to do is provide information that will link to all that is one of the keys. So, what are we going to be doing going forward? More and more engagements, big teams, small teams also use our online platform to link this initiative together so that those who have the appetite to invest in Bulawayo can then get the information they require to make the decisions that they require,” he said.
In addition, he highlighted that the province also needs to showcase the achievements of current investors who have expanded and recapitalized their plants, as a way of encouraging more investment.
RELATED CONTENT: Formalising MSMEs key to Bulawayo’s inclusive and sustainable urban development
Investing in Oportuninies
“I believe that the current investors lead the way. When you see current investors start to increase their plants, start to expand, start to recapitalize, it encourages those that are standing on the sidelines looking in,” he said.
Nyoni also highlighted the importance of increasing synergies among provinces, especially in terms of timber supply and processing.
Besides that he also revealed that Bulawayo relies on timber from other provinces, such as Matabeleland North, for its furniture and paper industries.
He said that there is a need to develop strategies to ensure that the value chain is complete and efficient.
“You could see from my sister and myself took enough for me to increase the synergies because at the end of the day each province relies on the capacity for timber processing is built on the timber that is so that lesson also needs to be lived by strategies to be developed in order to synergize and make sure that the value chain is complete,” he said.
Reindustrializing Bulawayo
Nyoni also emphasised the role of innovation and access to financing in reindustrializing Bulawayo.
“Innovation is in two ways and that is technologically and strategically as well as financing models. We need to link up financial innovations, strategic innovations and the projects themselves to get the best results,” he said.
The Permanent Secretary also mentioned a potential steel manufacturing plant that would source its raw materials from other provinces, but would benefit from Bulawayo’s infrastructure and services.
He said that such projects would require collaboration and coordination among various stakeholders, including government agencies, private sector players and development partners.
#News in Bulawayo #News in Zimbabwe Artist Arts BCC Bulawayo Bulawayo City Council Bulawayo Drugs Bulawayo economy Bulawayo industry Bulawayo news Bulawayo Police Bulawayo Water Bulawayo Water Crisis Bulawayo Women entrepreneurship Business Women Community Culture Currency Drug Abuse Drugs Economy Farmer Farmers Farming Informal Sector Informal Traders MSMEs Music News in Bulawayo News in Zimbabwe Police Police in Bulawayo Vendor Vendors water Water Crisis Water Shortage water supply issue Women entrepreneurship ZESA Zimbabwean economy Zimbabwe news Zimbabwe water crisis ZITF ZRP
Our stories told by us!
Join us for all News in Bulawayo and Bulawayo News in Zimbabwe.
