Prime Minister Explains How To Reach For Internal Revenue. - SOWETO DAILY

Prime Minister Explains How To Reach For Internal Revenue.

Prime Minister of the United Republic of Tanzania Hon. Kassim Majali handed over the certificate to the CEO of CRDB Bank. Abdulmajid Nekela recognizes the bank's contribution to the manufacturing sector by sponsoring the Presidential Awards for best manufacturers held yesterday at the Serena Hotel in Dar es Salaam left by the Chairman of the Federation of Industrialists (CTI). Subash Patel and centre are Minister of Industry and Commerce. Innocent Smokers.

Prime Minister Kassim Majali has said that in order for Tanzania to reach its goal of becoming a middle-income country dominated by the industrial economy, it must ensure that it meets certain criteria, including 12 per cent annual growth.

He said other variables are the contribution of manufacturing to GDP of not less than 15 per cent; increase formal and direct employment to increase to 40 per cent of all employment, and the manufacturing sector can import more than 25 per cent of the total foreign exchange earnings.

He made the statement last night (Thursday, October 17, 2019) while addressing guests and participants attending the 2018 Presidential Awards for Best Manufacturers held at the Serena Hotel, Dar es Salaam.

The Prime Minister who was the official guest on behalf of President Dr. John Magufuli said: "To meet those goals and accelerate the growth of the manufacturing sector, we must strengthen ourselves and strengthen closer cooperation between the public and the private sector," urging participants at the event to use the opportunity to reflect on new meet the key criteria for building a new industrial Tanzania.

“Each of us recognizes the importance of the manufacturing sector in the economic growth of any country in the world. Industrialization has been the source of the rapid development of the various countries of the world and a major axis of reliance on poverty alleviation by providing more and more reliable employment for the people. The development of the planet and technology depends largely on the manufacturing sector. ”

“Statistics also show that in 2018, the manufacturing sector has created 306,180 official jobs compared to 280,899 jobs in 2017; equivalent to a nine per cent increase. We will continue to take the necessary steps to enable the sector to grow faster and make a bigger contribution to GDP and thus contribute to economic growth and poverty eradication of our citizens, ”said the Prime Minister.

He said due to the continued efforts by the Government to build the industrial economy, a total of over 4,000 new factories have been built in various regions. “Construction industries produce building products (concrete, moths, tiles, pipes, marble, etc.); as well as agricultural processing industries including cereals, fruits, cooking oils and leather products, ”he said.

He said many industries have been established in the country and it is comforting to see local investors continue to open new industries together to increase their investment. “One of the industries that is mobilized is the ones that stimulate mass production. The construction of new factories in the country, during the fifth phase of the Government, contributed to 482,601 new jobs nationally, ”he said.

Earlier, inviting the Prime Minister to speak with the industry and the participants of the event, the Minister of Industry and Commerce, Mr. Innocent Bashungwa said his ministry in conjunction with the private sector will continue to remove the barriers that hamper the efficiency and growth of the manufacturing sector, including major concerns raised by the industry.

He referred to some of these concerns as delays in the payment of value-added tax (VAT) charges and the additional 15 per cent paid by industrial sugar importers; unparalleled competition with cheap imported products such as moths, plastic pipes, clothing and clothing, leather goods and marble.

“We will also be reviewing the impact of tariffs and high fees charged by various Government entities, increasing import duties on imported raw materials, and delaying access to work permits for expatriates foreign workers. ), ”He said.

Regarding the registration of companies, Minister Bashungwa said the ministry through the Business Registration and Licensing Agency (BRELA) has completed the online registration of business names. "These systems enable businesses to register a business name, company registration, trademark registration and industrial registration wherever they are through the agency's website ("

The Chairman of the Tanzania Federation of Industrial Organizations (CTI), Mr Subhash Patel, said CTI supports President Magufuli's intention to bring manufacturing into the country. "No country will be successful in the world without investing in manufacturing," he said.

Citing the potential business opportunities for Tanzanian investors, Mr Patel said Tanzania has neighbours that do not have a port and that is a good opportunity to invest and develop business in neighbouring countries.

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