20 Industry Investment opportunities in Tanzania

 20 Industry Investment opportunities in Tanzania

20 Industry Investment opportunities in Tanzania.

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The Industrial Sector is one of the sectors that contribute to the country’s GDP by providing employment to many Tanzanians working in small and medium enterprises.

In recent years the industry has been growing because of the growth of small industries such as textiles and textiles, leather and leather related products, food processing, cement, plastics, printing, metal and engineering due to environmental improvements and reforms. of policies and strategies developed by the ministry to create a conducive environment for investment in the various productive industries in the country.

Minister of Industry and Trade Prof. Kitila Mkumbo (Mb) has announced investment opportunities in 20 factories that had been privatized and returned to the Government.

Prof. Mkumbo said the Government conducted an assessment in 2017 in 156 privatized factories since 1990 and found that 88 factories were operating in accordance with the requirements of the relevant contracts and 68 factories were not operating in accordance with the relevant contracts.

“The government is in the process of repatriating 48 industries out of 68 industries that are not operating in accordance with the relevant agreements for other investment measures where so far 20 industries have no legal dispute and are in the investment stage” Prof. Mkumbo

He said the process of investing in the 20 factories by allocating 10 factories to investors from the private sector to develop them, eight (8) factories have been handed over to the EPZA Export Authority for Investors in those areas and two factories (2). ) will be handed over to public entities to develop by entering into joint ventures with private sector investors.

In addition, on August 21, 2021, Minister Mkumbo inaugurated the board of directors of the Tanzania Trade Development Authority TANTRADE in Dar es Salaam, and called it (TANTRADE) to be a commercial center that provides information, accurate statistics and quality business services in and out of the country to promote and develop Business in the country.

The Ministry of Industry and Trade in collaboration with the National Bureau of Statistics (NBS) has completed a preliminary study to assess the development of industries in the country where Tanzania currently has 80,969 factories. five (5), is 60,463, Minority with a capacity to employ 5 to 49 people and a capital of five (5) to 200 million is 17, 267, Medium with a capacity to employ 50 to 99 people and a capital of 200 to 800 million is 684 and Major with a capacity to employ 100 people and more and a net worth of 800 million is 618.

Yussuph Hans

My name is Yussuph Hans, a holder of Diploma in Journalism and Mass Communication attained at University of Dodoma (UDOM) Currently working with Dodoma FM Radio located in Dodoma region as a journalist and Presenter.

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