Import Substitution Industrialization- A Quicker way to Sustainable Job Creation

_{Opinion – Louis B Sibanda}
Import substitution industrialization (ISI) is an industrial development program based on the protection of local infant industries through protective tariffs, import quotas, exchange rate controls, special preferential licensing for capital goods imports, subsidized loans to local infant “This is why I agree with government on banning the importation of some commodities wholesale.

Beyond the ban, it is important to create an ecosystem advantage around the banned imports. We then need to look into facilitating the importation of capital goods (production plant, machinery for associated works) by clearing off tariffs that enable the business.

If we zero all forms of taxes and tariffs on the importation of salt processing and packaging machines, then we are enabling an industry. For vegetables the same may apply.I ask, Minister of Trade, Hon Mmusi Kgafela to look into using policy to create import substitution industries. The only way out is to reverse engineer production for the top 30 imports, that way we will create jobs quicker