Govt keen on creating conducive investment climate

The Minister of State, Prime Minister’s Office, Investment and Empowerment, Dr. Mary Nagu (second left) presenting a Tanzania Portland Cement Company (TPCC) certificate of incentive to the State Secretary for Foreign Affairs of Germany, Prof. Harald Braun (right) over the weekend in Dar es Salaam.  Others in the picture is the Germany’s State Secretary for Economy, Ms. Anne Ruth (second right); the TPCC Managing Director, Mr. Pascal Lessoine (third right) and the Acting Executive Director of Tanzania Investment Centre (TIC), Mr. Raymond Mbilinyi (left).

By a Correspondent, Dar es Salaam

The government of Tanzania has promised to continue supporting investors who facilitate growth of industrial activities in the country.

The assurance was given by the Acting Executive Director of Tanzania Investment Centre (TIC), Mr. Raymond Mbilinyi just after the handing over of a certificate of incentive to Tanzania Portland Cement Company (TPCC) that took place in Dar es Salaam over the weekend.

The certificate issued by TIC will facilitate the company invest more in the country and see it use more than Tshs 75 billion in its expansion endeavors.

TPCC Ltd is trading under Twiga Cement and Twiga Aggregates.  It is listed on the Dar es Salaam stock exchange where Heidelberg Cement Group of Germany holds 69.7 per cent of the shares.

As part of its expansion drive, Twiga has decided to extend its range of products for customer in Tanzania and in the coming months, construction companies operating in Tanzania will have an opportunity to buy aggregates for their projects from Twiga Aggregates.

“We will continue creating conducive environment to investors in Tanzania,” Mr. Mbilinyi said.

The Twiga cement expansion will see it add 700,000 tons of cement in production and enable it reach 2 million tons per annum.

Earlier, the Minister of State, Prime Minister’s Office, Investment and Empowerment, Dr. Mary Nagu who presented the certificate said it will help strengthening Twiga Cement and therefore the country’s construction industry.

“This will help you expand and therefore produce more cement and aggregates which are vital to construction industry, one of major drivers of our economy,” she said.

The Minister said that the government will continue play its role to reduce cost of doing business in the country for the benefit of investors and for the national development.

“We will make sure that investors get returns on their investments in this country and also expand the country’s tax base and create more employment opportunities,” she said.

On his part, the State Secretary for Foreign Affairs of Germany, Prof. Harald Braun who was present during the handing over of the certificate said that public private partnership (PPP) is very important for attaining sustainable development.

Talking on the diverse resources that Tanzania is endowed with he explained that it is PPP arrangement that can bring benefits out of those resources to people.

The last five years have seen TPCC invest Tshs 255 billion in its expansion drive.

Ends