Dstv Dailynews  Mobile
PM stresses conducive investment climate

PM stresses conducive investment climate

PRIME Minister Kassim Majaliwa has stressed assurance to local and foreign investors over the country's efforts to create a friendly investment climate, as he reiterated directives to institutions responsible for facilitating investments to avoid red tapes.

The Premier made assurance after visiting the Africab Tanzania, manufacturers of wires and cables in the country, in Dar es Salaam over the weekend, at which he commended the factory for big investment in manufacturing the electrical products.

He acknowledged that the factory has largely contributed to reduced costs in importing electric materials for implementing various projects.

The government purchases several electric raw materials and pipes from the industry for implementing various public projects.

He explained that the investment of the plant, apart from relieving the government from huge cost of importing raw materials, it has helped in speeding up of implementation of projects such as rural electrification (REA) because it takes short time to get raw materials from within, instead of waiting for long time for raw materials from outside.

“This contributes to bringing development to the nation,” he insisted as he emphasised on the importance of valuing local investors.

Mr Majaliwa said in the past, a lot of money was used to import raw materials from abroad, but currently several raw materials are produced locally, including those produced by the Africab industry.

He noted that for instance the government has been purchasing transformers and electric wires from the industry for implementing several ongoing energy projects countrywide.

“I believe that in the near future, the factory’s investment will further increase and bring more benefit to the country. I only insist that government’s authorities responsible for investment should continue ensuring a friendly environment for investors to invest in the country,” he emphasised.

On the other hand, the Premier said the industry has been a good taxpayer, paying 2bn/- every year and has created over 1000 jobs for Tanzanians.

“The government welcomes all investors with the intention to come to invest in the country due to existing of good investment climate,” he encouraged.

On his part, Africab Marketing Manager David Tarimo, said the visit of the Prime Minister to the industry was a catalyst for them to raise production.

He said being local investors their duty was to ensure that there is close cooperation with the government to ensure that the country's energy sector becomes efficient by producing quality electric products.

Mr Tarimo cited one of big challenges as some Tanzanians continue having a mindset that imported products are better than locally produced goods.

Author: DAILY NEWS Reporter

Post your comments



Recent Posts


more headlines in our related posts

latest # news