DAR ES SALAAM: ZANZIBAR President Dr Hussein Mwinyi has asked relevant authorities to scrap nuisance levies and iron out unnecessary bureaucracies to reduce cost of doing business in the country and stimulate economic growth.
Closing the 48th Dar es Salaam International Trade Fair (DITF) on Saturday, Dr Mwinyi said for trade and investment to flourish,there is need for responsible authorities to create friendly environment for investors to bring their capital into the country.
He said the 48th DITF has proved to be unique due to the good preparations and improved strategies of attracting more companies and businesses from in and outside the country.
He said a total of 3,886 both domestic and foreign companies have participat- ed in this year’s trade show.
“I have been informed that a total of 3,886 companies from within and outside the country have participated in this 48th DITF, we must be proud of this achievement, it shows that the country is gaining more trust from companies and big investors, this is good for our economy as well,” he noted.
Dr Mwinyi said there is need for trade and business sectors in both Zanzibar and Tanzania mainland to work closely to ensure they match business system to create good environment of doing businesses.
He said the exhibitions must be used for strengthening businesses and the country’s economy.
“DITF provides an opportunity for our companies to learn from each other, share experience and create new markets for their products, this is a good move in strengthening businesses in the country,” he noted.
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Dr Mwinyi said with DITF, Tanzania will be able to benefit from various markets outside the country due to available conducive environment in the country that enable companies to produce commodities at affordable cost by using local resources and raw materials that are readily available.
He said availability of coal and reliable electricity is another key factor in boosting local companies’ production.
President Mwinyi urged traders and investors to utilise DITF by networking and creating markets for their products outside the country.
According to President Mwinyi, this year’s DITF theme ‘Tanzania a Better Place for Investment’ is in line with the government desire to open-up the country to markets and attract more investors.
He urged local companies that have been able to secure business opportunities by getting orders from various foreign companies to observe standard and quality so as to maintain such market and play a good ambassadorial role for other companies and the nation at large. “The markets are open in the east African region under the East African Community (EAC), Southern African Development Community (SADC) and African Continent Free Trade Area (AfCTA). Tantrade needs to conduct a research and give information to traders so that they can exploit business opportunities in such areas,” he noted.
