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GOVERNMENT PLEDGES TO IMPROVE INVESTMENT ENVIRONMENT

 The Chairperson East African Cement Association Pascal Lesoinne stresses a point during a Seminar to discuss the Contribution of the Construction sector to the country’s Economic Development that brought together various stakeholders in Dar es Salaam at the weekend. 
 The Chairperson East African Cement Association Pascal Lesoinne stresses a point during a Seminar to discuss the Contribution of the Construction sector to the country’s Economic Development that brought together various stakeholders in Dar es Salaam at the weekend. 
 The Chairperson East African Cement Association Pascal Lesoinne stresses a point during a Seminar to discuss the Contribution of the Construction sector to the country’s Economic Development that brought together various stakeholders in Dar es Salaam at the weekend. 
The Chairperson East African Cement Association Pascal Lesoinne stresses a point during a Seminar to discuss the Contribution of the Construction sector to the country’s Economic Development that brought together various stakeholders in Dar es Salaam at the weekend. 
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Government pledges to improve investment environment

By Staff Reporter.

THE Government has pledged to support various investment initiatives in the country as part of its plan to attract more investment opportunities in the country. Speaking during a seminar to discuss the role of the Cement Industry in Tanzania’s economic Development held in Dar es Salaam at the weekend, the Deputy Principal Secretary at the Ministry of Finance prof. Adolf mkenda said creating good investment climate would help the country increase it’s Gross Domestic Product (GDP.

“The Ministry of Finance understands the challenges facing the cement industry that includes poor infrastructure networks, stiff competition and cement imports. “We will continue working with other government ministries and agencies to ensure that the cement sector continues playing a pivotal role in the country’s economic development process,” he said.

He said the cement sector for the last five years has been growing at an average of 9 percent with its contribution to the country’s Gross Development Process (GDP) increasing from 7.7 percent in 2008 to 8.1 percent in 2012.

“The cement industry has also grown simultaneously from a total production of 2,409,000 tons in 2011 to 3,425,991 tons in 2012. If all the cement produced in the country is sold within in the country without exporting , total cement production can meet up to 75 percent of the country’s total demand.

The Deputy Director Marine Transport Services in the Ministry of Transport Deogratius Mukasa during the event said his ministry has put in place a mechanism to enhance security at all the country’s various entry points and ports entry points. He however called upon various stakeholders to join the war on fighting importation of substandard and illegal goods if the problem is to be solved.

“We will continue to work hand in hand with other line ministries but all stakeholders including public should effectively play their part if we are to win the war,” he added.

The TPCC Managing Director Pascal ring the event called upon the Government to put in place additional anti-dumping and countervailing duties that will help check influx of sub-standard imported goods entering the Tanzanian market including cement.

“Importers have with the cooperation of unscrupulous Government officers used loopholes in the Port and Customs systems to avoid paying statutory taxes and duties, by under-declaration of import prices and  quantities. “Instead of 25 % duties and 18 % VAT, they end-up paying 5 to 10 % duties and 3 to 5 % VAT,” he said.

He added that if action is not taken fast, it would lead to a complete collapse of blue-chip companies in Tanzania and the associated loss to the local economy with huge negative consequences on employment and image of Tanzania as an investment destination.

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