Mpango hypes favourable loans for small industries
NJOMBE: VICE-PRESIDENT Dr Philip Mpango has called on financial institutions in the country to set favourable loan conditions for small and medium industries in order to promote production and strengthen the sector.
The VP made the call on Saturday during the climax of the Fourth National Exhibition of Small Industries Development Organisation (SIDO) held at Sabasaba grounds in Njombe Region.
He said it is important to address the issue of access to capital at low interest rates to enable entrepreneurs to establish small and medium industries.
The Vice-President added that in adding the value of crops and products, the issue of packaging is very important noting that SIDO and other institutions in the small-scale industries sector have the opportunity to contribute in designing and encouraging the production of quality and standard packaging by using cheap and simple technology.
Moreover, he said that researches are very important in promoting the use of various technologies in the production and value addition of products and crops.
The VP also directed SIDO to start operating commercially and to establish special awards to machine innovators and best producers of products from small scale factories in terms of money, certificates and special training to those who performed well.
He also directed Tanzania Bureau of Standards (TBS) to direct more efforts in reaching small entrepreneurs in order to approve the standards of their products at low cost.
On the other hand, Dr Mpango said the government’s mission is to build a competitive industrial economy to enable the country to attain the high middle-income status.
He said that the exhibition has raised several issues that affect the development of small-scale industries.
Similarly, the VP said that the government intends to build a new airport with a length of three kilometres which will enable large planes for passenger and cargo to land and also the construction of a passenger building and a special building to store perishable goods (cold room) in Njombe Region.
He further noted that the Ministry of Education, Science and Technology recognises the importance of building a university in the region and for the initial steps, the procedures for building the Dodoma University (UDOM) campus are underway and when they are completed, construction will begin immediately.
For his part, the Deputy Minister for Industry and Trade, Mr Exaud Kigahe said that his docket continues to review the policies and laws of various institutions, including the law that established SIDO in order to match with the current situation that will enable the organisation to provide productive and competitive services.
He noted that the government has provided funds that helped SIDO to improve its infrastructure, including six centres for the development of technology and innovation by installing modern plants worth 1.65bn/-in Mbeya, Kilimanjaro, Iringa, Shinyanga, Lindi and Kigoma regions.
“The government also increased the capital of 1.69bn/- in the National Entrepreneurship Development Fund (NEDF),” he said.
Earlier, SIDO’s Board of Directors Chairperson, Engineer Mussa Nyamsingwa said that the exhibition aims to enable citizens to understand the services provided by SIDO and the products produced by entrepreneurs for their own benefit and the nation as a whole.
He added that the exhibitions have been stimulating the growth of employment, implementing economic activities in various sectors especially in the value addition of crops and stimulating creativity and productive production.
The exhibition with the theme “Together Let’s Build Industries for Sustainable Economy and Employment” started on 21/10/2023 where it involved about 805 entrepreneurs, 95 technologies used in 22 value chains of crops and 30 government and private Institutions.
