Magufuli wants TanTrade to invest in industries not hotels
What you need to know:
He was responding to a speech by TanTrade board of directors chairman, Mr Christopher Chiza, who said the authority was planning to do major renovation in Sabasaba grounds which has been hosting the annual Dar es Salaam International trade fair (DITF).
Dar es Salaam. President John Magufuli has directed the Tanzania Trade Development Authority (TanTrade) to focus on building industries instead of investing in hotels and hospitality industry.
He was responding to a speech by TanTrade board of directors chairman, Mr Christopher Chiza, who said the authority was planning to do major renovation in Sabasaba grounds which has been hosting the annual Dar es Salaam International trade fair (DITF).
Mr Chiza said the renovation will include repairing of the all infrastructures and construction of a hotel to accommodate local and international exhibitors and other participants of the fair.
But Dr Magufuli said building a hotel was not a good idea at a time when the country was focusing on constructing industries.
He said if the aim is to have good buildings at the fairgrounds, TanTrade cal allow exhibitors to build such buildings while it (TanTrade) focuses on building industries.
“For me it’s a misuse public money. Instead of building a hotel, which can be built by another investor, you should direct the money to building factories to further government’s policy on industrialization,” he said on his inauguration speech.
