Launching a factory for Raddy Fiber Manufacturing (T) Ltd in Mkuranga District, Coast Region, the president said that eliminating bureaucracy was meant to ease things for both local and foreign investors.
“When you delay issuing a business permit you are delaying government tax, delaying job creation and suffocating our economy. You should remember that some of these investors secure loans so they are supposed to pay on time. We need to change this and this kind of bureaucracy cannot be tolerated,” she declared.
The government would continue to update and improve the business and investment regulatory environment, working with the private sector to improve the investment climate, she said, indicating that
the government has made some progress in easing the business climate, thus accelerating new investment projects, enhancing job opportunities.
“This particular investor started perusing this business idea in 2015 and he must have gone through so much to bring it to reality. He could have been despised as a local investor,” she stated, insisting that such habits ought to stop.
“There are Tanzanians with exposure outside who want to invest here. Please receive them positively,” she emphasised, highlighting that the government has continued to put in place a friendly investment climate and the relevant policies.
“We know that a strong private sector is critical for the country’s development so we will continue working towards developing the private sector,” she said, pointing at increased job opportunities in various sectors as a result of this effort.
“We have commenced a road show week for the 60th anniversary of independence, in tandem with showcasing the country’s major industrial projects. The launch of this industry is a sign of the many investment opportunities available in our country,” the president asserted, urging potential investors to tke up available opportunities as their invested capital will be safe.
Geoffrey Mwambe, the minister responsible for Investment, said that the government has renewed efforts towards easing business start up and regulations to enhance the country’ s competitiveness.
“The sixth phase government has advanced the regulatory environment especially on the issue of work permits that are now issued online between one and three days plus voluntary compliance in tax payments,” he said, reiterating the government’s assurance to foreign and local investors..
Tanzanians need to take courage and invest in various sectors as the peaceful environment is a guarantee for their investments.
The Raddy (T) managing director Ramadhani Mlanzi said that the fiber optic cable plant sits on 7.9 hectares in the district, expected to produce 24,000km fiber optic cables per annum in length.
“We have invested $9.49m (around 22bn/-) in this project and we anticipate that it will create over 600 jobs in line with the Tanzania Development Vision 2025,” he said.
The plant is the only fiber optic cable manufacturer in Tanzania and billed as the fourth largest in Africa, he said, noting that the aim is to produce enough fiber optic cables to support the telecommunications industry for the Tanzanian market and other regional markets.
Kundo Mathew, the deputy minister for Communications and Information Technology, stated that up to 670bn/- has been invested in constructing the 8,319 km national IT backbone starting from 2009.
The 2021/2022 budget allocated 170bn/- to support expansion of the national IT backbone project, where the government is building 4,442km this year, to a total mileage of 12,761kms, or 85 per cent of the 2925 target, he stated.
Raddy (T) Ltd will be involved in building the national fiber optic cable from Mangaka to Mtambaswala (72km) in Manyoni (Singida region) district to Mbeya (265kms), as well as Arusha to Namanga (105kms).
“With the launch of this industry our dream to be an ICT hub is being realised. We cannot consume all that the plant will produce so they will have to seek markets in neighboring markets,” he added.