Tanzanian industrialists urged to increase investments to push forward country’s economic growth

 Dar es Salaam. The Confederation of Tanzania Industries (CTI) has urged its members to increase their investment in industrial undertakings to help the government attain its industrialisation goal come 2020.

“It is upon us to urge our members to invest in industrial undertakings, either on their own, if they are able or in joint ventures with local and foreign investors,” confederation’s vice chairman Jayesh Shah said.

The call was made here in the city on Saturday, August 25 during CTI’s 25th Annual General Meeting.

In view of the large investment outlays required for infrastructure development, he said, the private sector would need appropriate incentives and regulations to ensure a reasonable return on investment.

He said that CTI believes that one way of enabling the private sector to fulfil its role as the engine of economic growth is to make it more competitive within market at home and in the sub-region so that it could build capacity for them to participate fully in the global trade.   

“In this respect, there is a need of enhancing the efforts to solve the existing challenges, to pave a way for enabling environment for industrial growth,” said Mr Shah.

He explained further that CTI was willing to work with the government in realizing the goal of attaining industrialisation and middle income status by 2025.