Boost for digital economy

Boost for digital economy

TANZANIA is set to be the first country in the East and Central African region in manufacturing of optic fiber cables, translating the government agenda in building digital economy.

This was said by President Samia Suluhu Hassan on Friday shortly after inaugurating a fiber cable manufacturing plant in Mkuranga District, Coast region.

Upon completion of the construction, the plant will have an annual capacity to manufacture and produce 24,000 kilometres of optic fiber cables, creating 670 employment opportunities.

“The government has been working hard to improve investment and business climate, as a result we are witnessing establishment of this kind of investment that brings positive impact to the country’s economy,” she said

Upon accomplishment of the project the plant, which is owned by the Tanzanian investor, will be the third-top among four factories in Africa. Its products will be sold within and outside the country.

As a way of backing local investors, President Samia reassured her administration’s commitment to continue protecting business and improve the investment climate, a move that also guarantees safety of investor’s capitals.

“The sole aim is to protect the available investors and attract more others, I’m also calling upon financial institutions to keep supporting investors by providing them with soft loans,” she said, insisting that her government will continuThe Head of State noted that since the country needs more investors then it is crucial for government officials to act accordingly for the greater interest of the nation.

She was also pleased to learn that the factory has already received a tender to connect 185 district councils and 4,580 wards with fiber optic cable to ease communications and development.

“The connectivity project will require only 12,000 kms of optic fiber cable out of the factory’s annual capacity of 24,000 kms. This is a huge step towards supporting local investments,” stated President Samia.

According to her, the government recognises and appreciates the contributions of the private sector in building the economy, and that efforts are underway to improve the Blue Print for Regulatory Reforms to Improve the Business Environment.

She also expressed the government commitment of ensuring Information and Communication Technology (ICT) service is availed across the country. President Samia also challenged the owner of the industry, Mr Ramadhan Mlanzi to fulfill his dream of building a smartphone manufacturing factory, a move that will further efforts of digitising the economy.

She said the government will continue building infrastructures to support the industrial sector in the Coast region in continued efforts to create employment opportunities and facilitate transfer of technology, including spurring the country’s economic growth.

“We shall ensure adequate supply of water, electricity and good road network to ease investment and business as well as movement of people, goods and service to and from the region,” she added.

Earlier, Minister of State in the Prime Minister’s Office (Investment) Geofrey Mwambe described the establishment of the factory as a key achievement for the country since independence of 1960.

“This project was registered in 2015 by then I was Director General of Tanzania Investment Centre (TIC), I helped him (the investor) in addressing challenges he was facing on establishing this factory,” he explained.

He also commended the CRDB Bank for loaning the investor to a tune of 22bn/- that has played a great role to establish the plant. Going forward, the minister invited investors to make better use of available opportunities as the government has worked on challenges that were hindering the investment sector.


Post your comments



Recent Posts


more headlines in our related posts

latest # news