Today's Coming Crisis Movie

Sunday, July 31, 2011

Confederation of Zimbabwe Industries calls for clampdown on cheap Chinese imports (Hear, hear!)

The Confederation of Zimbabwe Industries (CZI) president, Joseph Kanyekanye, has launched at veiled attack on the government's Look East Policy, saying Chinese imports were now the single largest threat to local industries.

He said government should regulate cheap imports from the world's second largest economy to ensure that local industries, still smarting from a decade-long economic crisis that was broken by dollarisation of the economy in 2009 are protected.
Local industries were currently operating at an average of 48 percent but have failed to lift themselves out of the operational quagmire of the past decade due to an influx of cheap imports and lack of capital for the refurbishment and replacement of antiquated machinery.
"
CZI has observed that there has been an influx of goods particularly from the Chinese and I'm not xenophobic but I feel for my country," Kanyekanye said in his contribution to the Medium Term Plan (MTP) launched by government a fortnight ago.
"So we are suggesting - let there be a crackdown to shut them immediately and let the locals come through. This is an area that government has to look at to ensure that we empower our individuals.

"In terms of policy, this is what Minister (of Youth Development, Indigenisation and Empowerment) Savior Kasukuwere subscribes to but on the ground it's not happening. This needs to be sorted out," Kanyekanye charged. (more)