Tanzania: Minister Mpango Invites Norway Investors in Industrialisation Drive

FINANCE and Planning Minister, Philip Mpango has invited investors from Norway to support Tanzania in its industrialisation drive and make the country realise its dream of a middleincome economy, adding that the private sector's contribution is necessary in boosting the economy, stressing: "Tanzania is taking a number of measures to improve the economy through industrialisation and we believe investors from Norway have a great role to play in the plan," Dr Mpango told the Norwegian Ambassador to Tanzania, Ms Hanne-Marie Kaarstad, during a meeting here yesterday.

He cited agricultural and forestry products, livestock, fishery, energy and exploration of oil and gas, among others as the areas they require their support. "Such investments would contribute significantly in setting up new industries and improve our economy and incomes of many Tanzanians," Dr Mpango further said, while meeting Ms Kaarstad in his office.

He told the envoy that as the country embarks on the ambitious Standard Gauge Railway (SGR) plan, it requires sufficient electricity for the project, pointing out that Norway should thus support them in the drive.

"The government has been conducting meetings with the private sector to iron out some issues which have been raised by the business community such as taxation and the talks are also aimed at bolstering trust between the two parties," he further said. Dr Mpango noted that the private sector has a role to play in bolstering the economy and talks between them and government have started yielding achievements.

In another development, he thanked the government of Norway for the support it has been rendering to Tanzania especially in areas such as budget support, energy, agriculture as well as improvements in revenue collection systems and in financial contribution on the public funds management programme.

Speaking at the meeting, Ms Kaarstad assured Dr Mpango that the government of Norway recognises their efforts to improve the welfare of the citizens through the promotion of industrialised economy. "Just recently my government signed two agreements with Tanzania for financial assistance amounting to 600 Norwegian kroner for rural electrification projects. I believe that the projects which are being implemented by REA (Rural Energy Agency), would contribute significantly in improving development and steer the country to a middle-income economy by the year 2025," she said.

The envoy further said that there was a need for the government to involve the private sector in boosting its economy and assured Dr Mpango that her country was committed in cementing relations between them.

She assured the minister that she would encourage investors from her country to invest in Tanzania and urged the government to put in place favourable and consistent policies for business and investment to grow.

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