President Mnangagwa lauds thriving SOEs

Mutare (New Ziana) – Financial and policy support being rendered by the government, as well as an improved work ethic, have seen some state-owned enterprises turning the corner and operating profitably since the advent of the Second Republic, defying the stereotype that they are a drain on the fiscus, President Emmerson Mnangagwa said on Wednesday.

President Mnangagwa said this at the commissioning in Mutare, of an acetylene gas plant by Verify Engineering, a state owned entity.

Acetylene gas is used in the fabrication industry and is the only fuel gas that can be used for welding.

It is also ideal for brazing, cutting, flame gouging, and spot heating.

“This company, along with others that have successfully turned around the fortunes of their entities, are defying stereotypes about state owned commercial entities. These enterprises can indeed be profitably managed, with visionary leaders at both board and management levels,” President Mnangagwa said.

“Since the advent of the Second Republic, the company has demonstrated renewed determination to be a leading innovator in the provision of cutting-edge technologies and related engineering support services, to meet our current national and regional needs. I applaud the Board, Management and Staff of Verify Engineering for this milestone achievement. Congratulations for a job well done.”

President Mnangagwa said the Covid-19 pandemic, and the ongoing global supply chain disruptions, had laid bare the urgent need to build resilience and local capacities.

He said the establishment of the acetylene gas plant came at an opportune time and further attested to the inroads the Second Republic had made towards establishing and growing national strategic institutions that deliver goods and services.

“Given the ongoing infrastructure development and growth of industries in our country, products from this particular plant are set to propel the industrialisation and modernisation of our economy, with regards to steel and metal-based fabrication. Working in conjunction with Zimtrade, prospects for an export led growth strategy remain feasible given that most economies are on a drive to ‘build back better and stronger,” he said.

“Verify Engineering is building internal capacities, which have enabled the company to locally develop and produce the hi-tech and tangible engineering works we are seeing here today. The various business units of Verify Engineering have proven the company’s capacity to design complex works from the concept stage, through the engineering and procurement right up to the construction stages. These production units, which also encompass products such as oxygen and nitrogen, graduate the entity into a “One Stop Shop”, making the company more competitive on the market.”

President Mnangagwa added; “It is noteworthy that Verify Engineering has been contracted to do similar works in some local institutions and the neighbouring sister Republic of Mozambique. Furthermore, the organisation is applauded for engendering a culture of creativity, innovation, self- belief and environment of limitless possibilities.

“I, exhort, Verify Engineering to broaden its production strategies as well as marketing and sales mix for increased footprints in local, regional and international markets. Always keep in mind the bigger goal of ensuring that your products feed into the regional integration agenda 7 as well as the overall SADC, COMESA and Africa Union industrialisation roadmaps.”

He said the government would facilitate an enabling environment for Verify and other businesses to grow.

Under the government’s Education 5:0 philosophy, President Mnangagwa said, institutions of higher education will continue being capacitated to scale up their role in the modernisation and industrialisation of Zimbabwe.

“They continue being the test beds for innovation and availing a range of curriculum that talk to the future. After all, now more than ever before, education in science, technology and innovation is more intricately connected to the multi-dimensional aspects of development, particularly in the context of the ongoing Fourth Industrial Revolution,” he said.

“I challenge more of us including, government Ministries, Departments and Agencies, to support the products and services being developed and produced by local companies.”

In August last year Verify Engineering commissioned a medical oxygen plant.

New Ziana