THE Minister for Industry and Trade Innocent Bashungwa has asked investors to utilize the immense investment opportunities as the government is continuing to create enabling business environment.
The Minister said investors should not become victims of the negative propaganda aimed at tarnishing the image of the country, noting there are fare criticisms that have made the ministry to adopt some reforms, but others are mere propagandas with ill intention.
He made the remarks as the American Chamber Of Commerce (AMCHAM) Tanzania’s sixth annual thanksgiving dinner held in Dar es Salaam over the weekend.
“It is so unfortunate that there are some investors who have become victims of such propaganda, but through you (AMCHAM) I hope we can tell the world that Tanzania is transforming to make a better environment to do business.” The government is continuing to make Tanzania a better place to do business.
The future is bright and with a collective effort it will be even brighter, he exclaimed. Adding that, “Our efforts are focusing on making sure the existing businesses are supported and we continue to create an enabling environment so that they can do even better.”
“Your testimonies to the world on how Tanzania is changing are more convincing and persuasive to prospective investors than the minister of Industry and Trade attending forums to talk about how well we are doing,” Bashungwa said. The government is investing in public infrastructure to support production of companies.
There is also a new outlook of Tanzania, with the heavy investment done on public infrastructure; but for such investments to have a return on capital there is a need to help the existing companies look outward and take advantage of the growing market of East African Community (EAC) and (SADC).
He explained that, as of recent there are also talks of tripartite partnership of EAC, SADC and COMESA. “As you know there is an ongoing push for Tanzania to be part of the Africa continental free trade area of which is enormous.”
“We would like to see companies operating in Tanzania not only to carter for the Tanzanian market, but take advantage of these economic blocks of which Tanzania is a member.”
The government is also working hard to change civil servants mindsets and get accustomed to the idea of middle income economy that is targeted.
“As we will get there driven by the private sector approach as well, so as civil servants we have to facilitate, instead of frustrating businesses,” he asserted.
He encouraged people to challenge themselves to go higher heights and not get accustomed to comfortable environment or situations.
The Charge’ d’Affaires of US Embassy in Tanzania, Dr Inmi Patterson explained that thanksgiving is a unique American holiday that embodies what is considered the core American value.
It is an annual feast, which was reinforced when the first American president proclaimed it a national holiday in 1789, she explained.
“Thanksgiving, fulfills essential purpose when it brings together people from different walks of life to break bread together and enjoy one another’s company,” she said as she thanked all those who were able to attend including representatives of American companies.