MINISTER FOR. INDUSTRY, TRADE AND MARKETING
“The government will use all the possible means to ensure that SMEs get the required strength, capacities and competencies….We will improve policies, laws…and various procedures related to the operations of SMEs. We, in the government, will make sure that our dreams are realised by hooks and crocks,”
Or should that read crooks!!!
“ Does that include stealing investors farms?”
Govt revising SME legislation, policy
By Judica Tarimo
22nd September 2011
The government yesterday gave a nod to a comprehensive review of the country’s legal and regulatory frameworks governing small and medium-scale entrepreneurs (SMEs) operations in a move to enable players compete in the rapidly growing business world.
The latest announcement signifies victory on the part of SMEs which had been complaining over countless impediments, including high lending interest rates charged by bank, lack of recognition, inadequate capital and poor public service delivery systems, hampering the sector’s growth.
“The proposed law, regulation, policy review would be of great benefit to the SMEs,” Minister of State in the Prime Minister’S Office (Investment and Empowerment) Dr Mary Nagu said at the climax of Business Development Gateway (BDG) Programme Grants Award ceremony, which was organised by the Tanzania Private Sector Foundation (TPSF) in Dar es Salaam.
According to the minister, policy and legal review, currently in pipeline, would boost up the capacities of SMEs thus enabling them to aggressively compete with their counterparts at regional and international levels.
The proposed review, she said, sought to get rid of outdated and old-fashioned SME laws, regulations and policies hindering growth and development of the sector.
“The government will use all the possible means to ensure that SMEs get the required strength, capacities and competencies….We will improve policies, laws…and various procedures related to the operations of SMEs. We, in the government, will make sure that our dreams are realised by hooks and crocks,” Dr Nagu noted.
The minister explained that the government would review existing laws and come up with a new legislation as well as corresponding regulations that would enable SMEs withstand the many challenges posed by the dynamic and completive private sector.
For her part, TPSF chairperson Esther Mkwizu said the foundation has designed many projects, including Cluster Competitiveness Programme (CCP), Matching Grant Programme (MGP), and BDG in complementing government-led programmes, aimed at enhancing development and growth of SMEs and private sector.
“Besides, TPSF provides technical support to several government SMEs and private development initiatives…the main objective of which is to ensure that our country is not locked out--in terms of development of business-related sectors,” she noted.
For his part, Marshall Elliot, who is head of UK’s Department for International Development (DFID), the organization which financed BDG, said all countries the world over need SMEs, describing them as the key to the creation of new firms, jobs and pathways to the future.
“They are prime drivers of economic growth. In any economy, it is the SMEs which drive innovation and test out new ideas,” he observed.
Reading the speech on behalf of SMEs, Jesca Msamba appealed to the government to set up special areas, the likes of Machinga Complex, where they could do business comfortably.
SOURCE: THE GUARDIAN