The Southern African Development Community (SADC) leaders meeting in an extraordinary summit in Harare are on Wednesday expected to endorse the regional industrialization strategy and roadmap.
The decision to formulate a SADC strategy and roadmap on industrialization was reached at the 34th SADC heads of state and government summit held in Victoria Falls last year, with the aim of enhancing the region's capacity to beneficiate and value add its natural resources for greater socio-economic benefit.
Chairperson of the SADC Council of Ministers and Zimbabwean foreign Affairs Minister, Simbarashe Mumbengegwi said, “The roadmap outlines, among others, objectives, challenges, interventions, as well as progammes, outcomes and key performance indicators under the three core pillars of the strategy, namely: industralisation, competitiveness and regional integration.”
SADC executive secretary Stergomena Lawrence Tax said once approved by SADC leaders, the strategy will set the region's path to industrialization and socio-economic prosperity.
But with Zimbabwe’s industrial capitalization headed south, how is the country going to benefit? To discuss this issue, VOA Studio 7 reached chief economist Prosper Chitambara of the Labour and Economic Development Institute and Zimbabwe National Chamber of Commerce vice president Davison Norupiri.
Norupiri belives Harare will benefit immensely.
The roadmap spans over a period of 48 years (2015-2063). During this period, the SADC region will see itself progress from being factor-driven to being investment-driven (2021-2050), and beyond that, to being an innovation-driven economy (2051-2063), with high levels of economic growth, competitiveness, incomes and employment.
SADC member states as part of the African Union adopted the action plan for Accelerated Industrial Development of Africa (AIDA) in January 2008. The AIDS implementation strategy focuses on creating coherent industrial policy frameworks at national, regional and continental levels that are well-focused and sensitive to local endowments.