The private sector could play a crucial role
in the manufacturing sector to grow competitively if there is conducive
environment to allow smooth flow of domestic and foreign investment.
Private enterprises and open markets are critical for development. Studies show that very few human activities matches private enterprises in their ability to assemble people, capital and innovation in order to create productive jobs, produce goods and services profitably as a result creating wealth in the process.
For the Executive Director of the Research on Poverty Alleviation (REPOA), Prof Samuel Wangwe, the manufacturing sector should be developed on the basis of market forces as well as the crucial role played by the private sector.
"The manufacturing sector will only be competitive when conducive environment for the private sector to come to play its key role as an engine of the economy," he said last week at the two-day retreat for officials of the Ministry of Industry and Trade and its agencies.
The private sector is poised to build on the strong economic growth in least developing nations and is convinced that substantial private investment will flow to the countries that can establish a conducive business environment and a level playing field.
The private sector has played an increasingly important role and contributed to employment, tax revenue, economic growth and the cultivation of the market system.
Tanzania holds enormous potential to become more prosperous and a locally competitive economy, but only if it becomes committed to promoting private sector growth, take control of its own development and ensure national ownership of the development process.
This commitment to growth and opportunity is the first step for promoting business confidence to domestic and foreign investors. The least developed nations need to encourage and enable responsible and sustainable business, entrepreneurship and small and medium-sized enterprises, and ensure a fair, competitive playing field for all business.
The Minister of State in the Prime Minister's Officer (Investment and Empowerment), Dr Mary Nagu, said recently that the government was committed to ensure that the private sector is empowered to play the leading role in propelling economic growth.
Private enterprises and open markets are critical for development. Studies show that very few human activities matches private enterprises in their ability to assemble people, capital and innovation in order to create productive jobs, produce goods and services profitably as a result creating wealth in the process.
For the Executive Director of the Research on Poverty Alleviation (REPOA), Prof Samuel Wangwe, the manufacturing sector should be developed on the basis of market forces as well as the crucial role played by the private sector.
"The manufacturing sector will only be competitive when conducive environment for the private sector to come to play its key role as an engine of the economy," he said last week at the two-day retreat for officials of the Ministry of Industry and Trade and its agencies.
The private sector is poised to build on the strong economic growth in least developing nations and is convinced that substantial private investment will flow to the countries that can establish a conducive business environment and a level playing field.
The private sector has played an increasingly important role and contributed to employment, tax revenue, economic growth and the cultivation of the market system.
Tanzania holds enormous potential to become more prosperous and a locally competitive economy, but only if it becomes committed to promoting private sector growth, take control of its own development and ensure national ownership of the development process.
This commitment to growth and opportunity is the first step for promoting business confidence to domestic and foreign investors. The least developed nations need to encourage and enable responsible and sustainable business, entrepreneurship and small and medium-sized enterprises, and ensure a fair, competitive playing field for all business.
The Minister of State in the Prime Minister's Officer (Investment and Empowerment), Dr Mary Nagu, said recently that the government was committed to ensure that the private sector is empowered to play the leading role in propelling economic growth.
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