Local entrepreneurs dared to exploit regional markets

16May 2016
Victor Karega
Business
The Guardian
Local entrepreneurs dared to exploit regional markets

LOCAL entrepreneurs have been challenged to identify areas where they have a competitive advantage and produce for both the domestic and foreign markets.

Ministry of Industry, Trade and Investment, Charles mwijage

Permanent Secretary at Ministry of Industry, Trade and Investment, Professor Adolf Mkenda said local businesses must take deliberate measures using their level of skills and the country’s resources to tap into the international markets.

Prof Mkenda said explained a competitive local business family should encompass improving the rate and quality of production noting that currently, the majority of businesspeople continue to struggle within the domestic market.

“I believe that through the level of skills that we have now, local businesses can exploit opportunities that exist in the regional and international markets. The government’s role is continuing to ensure that our products are competitive in terms of quality, ironing out the bureaucratic hurdles facing export producers,” he stressed.

He noted that the government is strengthening Tanzania Bureau of Standards (TBS) to make sure that it certifies all products made locally and make sure that they meet international standards.

Prof Mkenda pointed out that to make sure there are more exports, the government will also invest in skills development.

The Trade and Industries highest civil servant pointed out that government is seeking to instil a culture of entrepreneurship among small and medium size enterprises.

Small businesses and the self-employed have a key role to play in the country’s economy hence the government is committed to give them a conducive working environment.

On the other hand, stakeholders requested the government to update most of legislation governing private businesses citing regulations pertaining to issuance of commercial licenses.

The Confederation of Tanzania Industries (CTI) said Tanzania should not only attract foreign capital but also look abroad for the expansion of local businesses.

“Innovation and creativity should also be tapped from abroad to be utilised locally by integrating the local economy with other global economies,” said CTI Director of Policy and Advocacy, Hussein Kamote.

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