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Tanzania: Govt Still Committed in Supporting SMEsTuesday, July 08, 2014 > 08:37:55
THE government has expressed its commitment to empower Small Medium Enterprises (SMEs) through creation of a conducive business environment, as a means of bringing about economic growth and social justice.
Industry and Trade Minister, Dr Abdallah Kigoda, said during the ongoing DITF at the Sabasaba grounds that, "apart from generating wealth, SMEs empowerment is an important component in promoting peace, tranquility and social stability."
The government aims at raising small scale level to a medium and large scale enterprises that will change not only the individual income level, but also contributions to the national economy will be enhanced.
He said in his inaugural speech of the trade fair that, "TANTRADE in collaboration with the private sector will establish new exhibitions in the other regions, an initiative which will provide an opportunity for the local entrepreneurs to display and sell their products throughout the year."
He said the government is committed to enhancing industrial development and move from the medium industries to large industries being supported by agriculture development, one of the significant sources of raw material for some products.
"Ultimately and after a long while, the agricultural sector will remain small than industrial as it was the case of the developed nations like the United States of America," he said. He said local traders should take as a challenge the competition exerted by few foreign companies by enhancing the quality of their products instead of seeking favours.
He said that the economic growth is an open process not concealed in an island but interacting with others to gain new experiences and added that in supporting SMEs, the government will continue to facilitate microfinance schemes which can reach remotest people where banks have no access.
Dr Kigoda said that it was through exploration of opportunities created in the trade fairs that entrepreneurs can build up a strong approach towards winning better business operations inside and outside the country.
Also, he said the trade fairs should provide the most important catchment area for the local entrepreneurs to learn how developed countries are doing business.
He added that this is significant for local businesses in order to focus in value addition to their locally made products, so as to win international market which is said to be competitive and difficult to penetrate.