Over 70 percent of privatised industries are currently performing well, the Permanent Secretary in the Ministry of Industry and Trade, Joyce Mapunjo has revealed.
She said that 20 percent of the privatised industries have changed business while only 10 percent are still dwindling.
The PS mentioned some of the industries that are doing well as those producing edible oil, cement, food commodities, soft drinks and iron manufacturing.
Mapunjo was speaking in Dar es Salaam on Tuesday at a function to mark the 50th anniversary of Mansoor Daya Chemicals Limited which was graced by the Prime Minister Mizengo Pinda.
She said the government is determined to support local industries, adding that it doesn’t intend to continue importing many products while there are plenty of natural resources that could be used as raw materials for pharmaceuticals and other industries.
Mapunjo said the government has already put in place policies for small industries and entrepreneurs with the aim of creating good investment environment that could enable them compete globally.
According to her, the government is now in talks with financial institutions to make them provide loans for small factories.
She said plans are under way for establishment of special banks for agriculture and industries, whereby farmers and small scale entrepreneurs would easily access loans.
In his address, Prime Minister Mizengo Pinda reiterated the government’s endeavour in supporting the private sector and in creating a good environment for local and foreign investors.
The Premier said the government recognizes the vital role played by the private sector towards the country’s economic transformation, hence putting much effort in attracting investors in various fields.
“The government will continue to support the private sector to perform its best,” Pinda said, adding that the new products introduced by the factory are a clear testimony that it is performing well.
He applauded the pharmaceutical factory for being able to employ 105 local workers, advising them to continue producing quality products so as to meet the expectations of its custromers.
He commended the factory management team for ensuring production of good products that can compete within and outside the country, despite passing through difficult economic conditions.
“You have been able to operate well despite the many challenges…we commend your contribution to the country through tax, foreign exchange and caring for our life,” he noted.
Earlier, Mansoor Daya, who is the founder of Mansoor Daya Chemicals Limited, said the company was established in 1962 with the capacity to produce 300,000 tablets, seven hours in a day, but currently they produce 3 million tablets.
He said some of their products including X-Pel are exported to Mozambique, UK, Kenya, Uganda and Rwanda.
“Our long term plans are to manufacture approved anti-malaria products and HIV medicine. We also plan to build another factory with 50 employees due to increased drug demand,” he said.