THE government has reiterated its commitment to create conducive environment for greater private sector participation in the economy.
Zanzibar’s Minister of State in the
Second Vice President’s office, Mr Mohammed Aboud, said in Dar es Salaam
that the government would create a stable and conducive macro-economic
framework for investment and economic growth.
He was speaking at the launch of NTS
MART Tanzania, a new retail company in the country that supplies
one-stop foodservice and hospitality products.
According to Mr Aboud the economic
reforms have produced sustainable economic growth in Tanzania, and that
currently Gross Domestic Product (GDP) grew by over seven percent
annually.
“Now we experience stabilisation of our
currency which is freely convertible and international transactions are
fully liberalised whereby investors can repatriate profits and dividends
as well as service loans, pay loyalties and make other payments without
unnecessary restrictions,” he said.
NTS MART is a joint venture between the
shef Limited and China’s Guangzhou Nantian Sources Company Limited. The
former has 49 per cent shares while the latter owns 51 per cent,
according to Project Coordinator Saleh Dola.
The company kicked off its services
after an official launch by the minister. According to the chairman of
NTS MART CHINA, Mr Raymond Chen, the soft opening of NTS MART Tanzania
yesterday was a symbolic of a baby being born. “A new baby is like the
beginning of all things-wonder, hope and a dream of possibilities.
This project has taken a long time to
take off but like a child in its mother’s womb, the time to be born is
always the right time,” he noted.According to him, the future plan of
the USD3m/- is to extend services across East Africa and beyond.
Speaking at the launching ceremony, Mr
Aboud remarked: “I do believe that your Chinese business people and your
partners from Tanzania will take this existing business relationship to
the higher ground as Tanzania provides an increasing improved
investment and trade environment.”
He assured the business community that
the government would do everything possible to ensure that those who
were investing in the country were making profit out of their business.
“I believe you need returns on your
business and we need trade and investment that pass into our peoples’
knowledge and skills, create jobs and generate revenue for the
treasury,” said Mr Aboud.
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