The Government should devise incentives to promote research and development in private and public companies, an official said over the weekend. The Government has committed to set aside at least 1 percent of the National Budget for scientific research and development.
Research Council of Zimbabwe board member Dr Nomathemba Ndiweni, who is also Dean of the Faculty of Medicine at the National University of Science and Technology, said the incentives include tax re-bates.
"Government should come up with measures that encourage companies to embark more on research. The incentives include reducing tax on profit relating the amount a particular organisation has spent on research and development," she said.
"Other incentives are to facilitate collaboration among companies as well as formulating the necessary regulations to promote research and development. This has worked well elsewhere and why not in Zimbabwe?"
Dr Ndiweni said at the moment companies were hesitant to embark on research as it required financial resources.
"Research and development allows for the development of better products and service at a very low cost.
"Incentives will allow these companies to take high risk and eventually research and development will be beneficial to the whole nation," she said.
She said with research and development, operating businesses would be more profitable, resulting in job creation.
The Government in March launched the second science, technology and innovation policy which aims at making science and technology an integral part of both individual and national development.