Govt instructs investors to submit their business development project

22May 2020
By Guardian Reporter
Dar es Salaam
The Guardian
Govt instructs investors to submit their business development project

INVESTORS who have registered their projects with the Tanzania Investment Centre (TIC) have been instructed to submit development reports for their projects and challenges thereon every six months for rectification and improvement.

Minister of State, Prime Minister’s Office (Investments) Angellah Kairuki.

The directive was given yesterday by the Minister of State, Prime Minister’s Office (Investments) Angellah Kairuki after inspecting OK Plast factory in Vingunguti industrial area in Dar es Salaam.

The factory that has employed 595 Tanzanians including five foreigners processes scrap metal to manufacture brass rods, power cables, battery ingots and mats.

Speaking at the factory, Kairuki said TIC registration regulations require investors to do that in order to place their projects nearer to TIC.

She said: “The government   listens for investors   projects proposals She hail the factory for timely payment of   taxes and for employed many Tanzanians, and I appeal to other factory owners to emulate you.”

OK Plast factory manager Fadil Ghaddar said their investment had now reached 10b/- and since the factory’s establishment in 2005 they had attained big achievements including the acquisition of internal markets as well as from neighbouring countries, Kenya in particular.

He said their biggest challenge is the acquisition of raw materials and had appealed to the government to put up strategies that would ensure local industries get adequate raw materials.

“The government can ban the export of raw materials so as to satisfy the local industries,” he suggested.

He said this challenge had forced them to reduce production from 500 tonnes of brass rods per month to 150 tonnes only.

He said a recent study by Bureau for Industrial Cooperation (BICO) of the University of Dar es Salaam (UDSM) showed that there is ample supply of brass scrap metal to meet local industries.

“We are failing to get this raw material because it is being exported and we appeal to the government to look into the issue,” he told minister Kairuki who promised to convey the complaint to relevant authorities.

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