DODOMA: INDUSTRY and Trade Ministry has unveiled its 110.9bn/- budget estimates for 2024/25, with six priorities targeting to enhance industrial production and boost national economy.
Of the total budget, 81.1bn/- is proposed for the recurrent and 29.8bn/- for the development.
The ministry’s budget has increased by 20.2 per cent from 92.3bn/- set aside in the 2023/24 fiscal year. This also translates to the increase of development budget by 16 per cent from 25.7bn/- in the year 2023/24 to 29.8bn/- in the next year.
Tabling the budget estimates in the National Assembly on Tuesday, Minister for the portfolio, Dr Ashatu Kijaji mentioned key priorities for the next year, including to continue with the implementation of flagship and strategic projects and strengthening the capacity of production in industries and provision of services by improving infrastructures and an enabling environment.
“The ministry would further improve the environment for investment in industries and trade,” Dr Kijaji said.
She further pointed out that the priority would also be put on motivating human development by improving projects and programmes in the economic and social sectors including education and training for skills.
The ministry will also engage in doing market intelligence for goods and services produced in the country and enhancing private sector growth in the country.
ALSO READ: Trade Minister tables 110.9bn/- spending plan
The minister told the house that based on those priorities, activities to be implemented would include to develop strategic projects Engaruka Soda ash and Mchuchuma and Liganga Coal project and to develop the industries of Tanzania Biotech Products Limited (TBPL) and the Kilimanjaro Machine Tools Manufacturing Company (KMTC).
Other activities are constructing a sugar mill miniprocessing plant, to make machineries for alternative energy sources for artisanal miners in effort to protect environment as well as to establish one industrial park in each district in order to add value to agricultural, livestock and fishery produce.
Dr Kijaji also stated that the ministry will continue fighting against importation of fake produces so as to safeguard products’ brands and labels against individuals who use them without consent of owners.
Furthermore, she said the ministry will be providing training to trade officers with the aim of reaching out to them and simplify registration of business licenses. She also said they will reach more traders and owners of industries in the informal sector by conducting business clinics in every district council in the country.
The ministry will also educate stakeholders about opportunities brought by regional and international cooperation and connect Tanzanian businesspeople with investors.
“We will keep on efforts of building and strengthening key economic foundations by attracting investors and establishing industries as highlighted in the 2025 National Development Vision and the CCM’s Election Manifesto of 2020-2025,” she said.
When presenting its report, the Parliamentary committee on Industries, Trade, Agriculture and Livestock advised the government to continue increasing the ministry budget annually to enable it effectively implement its planned activities.
“The government should ensure that it timely disburses funds to finance the endorsed ministry’s budget,” said Mr Francis Mtinga who read the committee’s speech on behalf of the committee’s chairperson, Mr Deodatus Mwanyika.
Mr Mwanyika stated that the country still needs more investments from both local and foreign investors. Therefore, the committee urged the government to further improve investment climate in order to attract more private investments in the manufacturing sector, which would result into creating more employments.
The committee also advised the government to continue protecting local industries, especially those whose production contribute largely in creating jobs and saving foreign currency such as sugar industries.
