Medard Kalemani, the Deputy Minister of Energy and Minerals, told Parliament in Dodoma that industries to be repossessed will be allocated to other investors who were capable of developing them.

TanzaniaSpeaking on behalf of the Minister for Industry, Trade and Investment, Charles Mwijage, Kalemani said the government recognized the importance of reviving factories which were privatized but were not functioning in order to increase employment and promote economic growth.

The minister was responding to a question by Magomeni Member of Parliament Jamali Kassim Ali who had wanted to know how the government was prepared to revive factories which were not functioning.

Kalemani said that Ministry of Industry, Trade and Investment was working to improve the business environment especially to locals by allocating land for investment to them.

“The government will make sure that it sets aside land which will be used for construction of factories, and advise on access of capital and modern technology,” he told the House.

Kalemani, however, advised local investors to form joint ventures with foreign investors with big capital or access loans from the financial institutions, especially the Tanzania Investment Bank (TIB).

According to a survey conducted by the Ministry of Industry, Trade and Investment in collaboration with the Treasury Registrar, 37 privatized industries were not functioning while 24 produced below capacity. Enditem

Source: Xinhua/NewsGhana.com.gh

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