EISAZ to launch State of the Engineering, Iron and Steel Industry Report 2021
Regardless of the COVID-19 pandemic that caused havoc in 2020, the manufacturing sector in Zimbabwe recorded improvement in capacity utilisation from 36.4%% in 2019 to 47% in 2020. The Engineering, Iron and Steel Sector`s capacity utilisation accordingly improved from 41% in 2019 to 47% in 2020. The sector continued facing broader challenges which include foreign currency shortages, high inflation, working capital, Covid – 19 restrictions, transport challenges, competition from imports and water shortages among other constraints.
The Engineering, Iron and Steel Association of Zimbabwe (EISAZ) will launch its first edition of the State of the Engineering, Iron and Steel Industry Report 2021 on 20th May 2021. The report is a comprehensive review of the industry over the past year and provides for key aspects which include macro – economic policies governing the Engineering Iron and Steel Sector, SWOT analysis of the sector, major cost drivers, constraints and opportunities, human capital analysis and technological situation, state of imports and exports , capacity utilisation situation, demand for major products, sector`s regional and global market share, demand outlook for engineering, iron and steel products, market developments for 2021, sector`s economic outlook for 2021, impact of COVID – 19 and prospects for recovery as well as recommendations to Government for policy making.
The report helps the Engineering Iron and Steel Industry players to reduce information asymmetries and improve industry accountability through availing to multiple stakeholders’ factual and accurate data on the state of the sector which is the cornerstone for most other sectors in the Zimbabwean economy. This certainly assist the Association (EISAZ) in developing common understanding with its members and key stakeholders including the Government.
The unveiling of this report carries significant importance as the Ministry of Industry and Commerce in liaison with EISAZ and other relevant stakeholders are in the process of implementing a road map towards resuscitation of the iron and steel value chain. The report will offer real solutions towards sustainability of the Engineering, Iron and Steel Sector.