{"id":34301,"date":"2021-08-06T14:55:33","date_gmt":"2021-08-06T14:55:33","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=34301"},"modified":"2021-08-06T13:36:43","modified_gmt":"2021-08-06T13:36:43","slug":"govt-embarks-on-creating-local-content-policy-for-investment","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-embarks-on-creating-local-content-policy-for-investment","title":{"rendered":"Govt embarks on creating local content policy for investment"},"content":{"rendered":"

Africa-Press<\/a> – Tanzania<\/a>. <\/strong><\/span>THE government has embarked on formulating a first national policy on local content, which will guide on how citizens benefit in opportunities arising from foreign direct investment projects.<\/p>\n

The initiative came at time when the country witnessing a number of FDIs but mostly lacks national level policy on local content\u2014but mining, and oil and gas sectors has the policy.<\/p>\n

The move, handed by Prime Minister Office (PMO), started this week by collecting opinions from various stakeholders and the first group was the private sector. The government wants the policy in place by December.<\/p>\n

PMO\u2019s Director of Economic Empowerment and Private Sector Development, Mr Conrad Millinga, said the guidance is needed to direct local companies on the benefits from such investments.<\/p>\n

\u201cPrivate sector is the engine of the economy growth. We need to have clear local content policy which will guide us on how we can ensure that locals owned companies benefit from emerging opportunities,\u201d Mr Millinga said.<\/p>\n

Mr Millinga said in his introductory remarks while opening the Public Private Sector Consultative meeting on local content policy review on Wednesday, which was co-organised by the Tanzania Private Sector foundation (TPSF).<\/p>\n

The Director said FDIs are expected to create new jobs, demand for local raw material and other supplies but there is no local content policy.<\/p>\n

\u201cThis is one of the reasons barred locals form seizing the opportunities raising from foreign projects, and hence, guidance is needed to support them.<\/p>\n

\u201cThe absence of national local content policy makes it difficult for the government\u2019s intervention,\u201d Mr Millinga said.<\/p>\n

The national level policy once formulated would identify best approaches of supporting local companies to take part in capacity building, community engagement, procurement of local services, technology transfer and ensuring steady supply of raw materials.<\/p>\n

TPSF Board Member Mr Sylvester Koka welcomed the effort of formulating the policy to support local companies to build capacity and tap opportunities created by FDIs.<\/p>\n

\u201cThat way,\u201d Mr Koka said, \u201clocal companies at the end of the day also become multinational companies too.\u201d<\/p>\n

He urged if there is a clear policy, local companies would grow and graduate to create new jobs even outside the country, which is part of the growth of the national economy.<\/p>\n

\u201cWe must classify local companies and areas of employment by their categories so that they can keep on growing and benefit the national economy,\u201d Mr Koka said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Tanzania. THE government has embarked on formulating a first national policy on local content, which will guide on how citizens benefit in opportunities arising from foreign direct investment projects. The initiative came at time when the country witnessing a number of FDIs but mostly lacks national level policy on local content\u2014but mining, and […]<\/p>\n","protected":false},"author":84,"featured_media":34300,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[6990,6991,711],"class_list":["post-34301","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press-2","tag-africa-press-tanzania","tag-tanzania"],"yoast_head":"\nGovt embarks on creating local content policy for investment - Tanzania<\/title>\n<meta name=\"description\" content=\"THE government has embarked on formulating a first national policy on local content, which will guide on how citizens be ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-embarks-on-creating-local-content-policy-for-investment\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt embarks on creating local content policy for investment\" \/>\n<meta property=\"og:description\" content=\"THE government has embarked on formulating a first national policy on local content, which will guide on how citizens be ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-embarks-on-creating-local-content-policy-for-investment\" \/>\n<meta property=\"og:site_name\" content=\"Tanzania\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-06T14:55:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/08\/img-610d3ad78a49c.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"247\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-embarks-on-creating-local-content-policy-for-investment#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-embarks-on-creating-local-content-policy-for-investment\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Govt embarks on creating local content policy for investment\",\"datePublished\":\"2021-08-06T14:55:33+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-embarks-on-creating-local-content-policy-for-investment\"},\"wordCount\":408,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-embarks-on-creating-local-content-policy-for-investment#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/tanzania\/sites\/17\/2021\/08\/img-610d3ad78a49c.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Tanzania\",\"tanzania\"],\"articleSection\":[\"all news\",\"Economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-embarks-on-creating-local-content-policy-for-investment#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-embarks-on-creating-local-content-policy-for-investment\",\"url\":\"https:\/\/www.africa-press.net\/tanzania\/all-news\/govt-embarks-on-creating-local-content-policy-for-investment\",\"name\":\"Govt embarks on creating local content policy for investment - 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