Govt determined to build strong private sector, Dr Nchemba says

08Jul 2021
By Guardian Reporter
Dar es Salaam
The Guardian
Govt determined to build strong private sector, Dr Nchemba says

FINANCE and Planning minister Dr. Mwigulu Nchemba has said that the government is determined to build a strong private sector that will accelerate the country's economic growth.

Finance and Planning minister Dr. Mwigulu Nchemba (L) shakes hands with Tanzania National Business Council (TNBC) executive secretary Dr Godwill Wanga shortly after the 12th council meeting which was chaired by President Samia Suluhu Hassan recently in Dar es Salaam.Photo: Guardian Correspondent

Dr Nchemba made the remarks yesterday in Dar es Salaam when speaking to reporters recently after the 12th meeting of the Tanzania National Business Council (TNBC) under the President Samia Suluhu Hassan who is also the chairperson of the council.

The minister said within 90 days since President Samia get into the office, she successfully built great hopes for the private sector which is the engine of the country's development.

Soon after getting into office President Samia made clear her commitment to building a strong and resilient private sector that will make a significant contribution to the country's development, Dr Nchemba said citing areas that have been reformed as tax collection systems.

He further said the reforms were aimed at boosting the country's economy, increasing revenue as well as increasing cash flow for the people.

"The improvements that have been made will help increase tax collections and grow the business as the money will be in the hands of the people which will further stimulate production and thus boost the economy and employment for Tanzanians," he explained.

TNBC executive secretary, Dr Godwill Wanga said the conference was a great success for finding solutions that would benefit both the public and private sectors.

He said among the key issues discussed and addressed included ensuring that unproductive taxes are eliminated in order to expand the tax base, develop forest products industries, make improvements to regional and district councils as well as make the private sector available to banks. strengthening the public-private partnership (PPP) strategy.

Co-Chair of the TNBC Agriculture Committee, Jacqueline Maleko, said the attention of President Samia Suluhu Hassan on business development and investment issues will boost the country's development.

“As a private sector, we are encouraged by the attention of President Samia Suluhu Hassan who is ready to build the private sector for the benefit of the country. The time has come to partner with the public sector through our agencies such as TNBC, the Private Sector Foundation (TPSF) and many others where we can take our challenges to the government, '' she said.