Tanzania, April 24 – President John Magufuli has emphasized on the need to grow and develop the industrialization sector, especially the local sector to be competitive in the regional market. He has asked investors to commit their resources to build the local factories in the country and grow the industrialization sector for a better and stronger economy.
The President has discouraged a lot of importation of goods and other services as they offer a huge threat to the development of the country’s industrialization sector. He has urged local manufacturers to produce high standard and quality products and provide raw materials to service the local factories. This way the market too will be able to purchase their products.
Kilimanjaro has growth the country’s industry with a tally of 26 factories already established in the region. Other regions including Kilimanjaro have a target of at least 100 factories to be in place by December 2018, as per the government’s goal for the sector.
Many industries will help the country battle the foreign exchange battle and make the country stable and independent. The ability to export more than import will strengthen the country’s currency and attract more investors with a stable economy.
The challenge the sector faces is lack of enough raw materials for the industries that led to the closure of a number of factories in the country. Of course it cost the government a lot of money with less business but it remains a challenge to supply the raw materials in the country.
Kilimanjaro is not far from the challenges but has been able to soar high above the problems to record a high in the sector. International competition has not downplayed the tenacity of the region to shut down factories but looks for ways to keep up with the competition for the benefit of the country as well.