PM: Dar needs stronger private sector

Tanzania needs a responsible private sector to unlock the existing potential in energy, agriculture, oil and gas sectors that responds to economic development and the need of citizens.

This kind of private sector should also utilise opportunities that are being created in the capital markets -- especially Enterprise Growth Market -- to expand their capital in unlocking the economic potentials of this land.

The Prime Minister, Mr Mizengo Pinda (pictured), said this in Dar es Salaam when concurrently launching the Prosperity Partnership between Tanzania and the United Kingdom and Dar es Salaam Stock Exchange (DSE) alternative market, the EGM.

“It is by working together only we will be able to achieve the desired goals of this new partnership,” Mr Pinda said, adding: “on other hand the government needs to strengthen business environment.”

The premier said the EGM operations would further provide an avenue larger companies and multinationals not only to utilise the country’s capital market, but also strengthening the new Dar-London partnership.

“This should also act as a catalyst for large companies and multinationals to utilise the Tanzanian capital markets for capital needs,” Mr Pinda said.

He said to best foster the new partnership, an inter-ministerial committee should be formed to facilitate and address challenges that poise to derail the relationships.

On her part, the UK’s Secretary of State, International Development, Ms Justine Greening, pledged to forge a strong partnership to boost trade, investment and economic development to benefit the two sides.

“It’s hoped that the partnership will double the number of companies doing business in Tanzania in the renewable energy and agriculture sector by 2015,” Ms Greening said.

The Secretary of State was accompanied by a high-level business delegation comprising senior representatives from 19 British and international businesses looking to find a new way of boosting jobs and investments.

Source: Daily News, reported by Abduel Elinaza from Dar es Salaam, Tanzania

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