Coast Region established 1,236 factories in last five years—RC

26Oct 2020
Correspondent
Kibaha
The Guardian
Coast Region established 1,236 factories in last five years—RC

COAST Region has established 1,236 factories in the last five years as compared to 300 factories that existed in 2015.

RC Evarist Ndikilo.

The remarks were given here at the weekend by the Regional Commissioner, Evarist Ndikilo as he was opening the regional business board meeting organised by Tanzania National Business Council (TNBC) which among others discussed the region’s economic achievements and strengthening of the environment for investment.

“There are a total of 60 factories, 112 middle, 168 small and 888 mini factories, the numbers that reflect great achievements for the region during the last five years,” he said.

He said the achievements were a result of excellent public/private sector relationship that ensured the region’s goals were implemented in deeds. 

RC Ndikilo also said the region organizes a successful products exhibition aimed at introducing various goods produced in the region to attract both local and external markets.

“I call on Tanzanians to show patriotism by purchasing home produced goods that would assist in solving the unemployment challenge and increase the country’s GDP,” he said.

He said the region managed to create 20 per cent of jobs in 2020 compared to 5 per cent in 2015/16 that saw more than 200,0000 Tanzanians employed.

TNBC Executive Secretary Dr Godwill Wanga said the government has improved the business environment that saw an increase of investors in the last five years.

“Direct foreign investment increased from USD 850 to 1.1 billion, the increase that enhanced the nation’s foreign earnings as well as strengthening the country’s GDP,” said Dr Wanga.

He said the lowering of interest rates on loans from 20 to 14 per cent and increase of bank loans to seven per cent shows how the government continued to improve the country’s environment for doing business.

The Chairman of the Women Empowerment Forum for the Coast Region, Jovita Mavoa thanked the government for allocating funds in the local councils for providing education to small traders to establish businesses.

The TNBC meeting for the Coast Region brought together the region’s various business people to discuss on achievements and challenges during the last five years in collaboration with the Tanzania Private Sector Foundation (TPSF) under sponsorship of NMB, CRDB and NBC.