(HERALD) SMEs Ministry welcomes India, Zimbabwe project

SMEs Ministry welcomes India, Zimbabwe project
Business Reporter

THE Ministry of Small to Medium Enterprises has welcomed the Indo-Zim project, which was launched in Harare last week. The SME project saw the procurement of around US$4 million worth of high technologies from India for use by small and medium enterprises here. In a telephone interview with Herald Business last week, Small to Medium Enterprises deputy minister Mr Kenneth Mutiwekuziva said he was thankful that the two governments signed a Memorandum of Understanding in 2006 in which India pledged US$5 million to develop SMEs in Zimbabwe.

"I thank the Government for the ‘Look East Policy’ which brought about lucrative and unconditional relationships with the East," the deputy minister said.

"This is clear testimony that the East are an all-weather friend who helped us during our colonial era and continue to help us win our economic war.

"We are happy that all SMEs, from urban areas to rural areas will be boosted since President Mugabe clearly indicated that some of the machines will be installed for rural facility centres.

"Our banks and micro-finance institutions should interact with those from India to learn more about how best they can assist our small to medium enterprises sector like they do in their country. It is my wish that this co-operation be an on-going process as well as a mutually beneficial one," said Mutiwekuziva.

Some of the machines procured have already been installed at the Indo-Zim Technology Centre, which has branches at the Harare Institute of Technology, Bulawayo Polytechnic and Small Enterprises Development Corporation’s factory shells in Chitungwiza.

Speaking at the launch last week, President Mugabe urged SMEs to take full advantage of the project to produce quality and competitive products.

He said that the project would contribute significantly to the building of the country’s industrial base as well as developing technically qualified entrepreneurs to start up businesses.

It was high time SMEs moved in tandem with global trends from being traditional and general businesses to high-tech enterprises that would increase national wealth and reduce the apparent scarcity of foreign currency, President Mugabe said.

Indian was hopeful that the launch of the Indo-Zim Project marked the beginning of continued co-operation between the two countries.

The country expressed India’s wish to have companies from that side investing in Zimbabwe in sectors like power, railways, mining, energy, dairy and agriculture. The plastic, electronics, carpentry, railway and other heavy industries are set to benefit from this project.