WHAT INDUSTRIALISATION ENTAILS TO BOOST ECONOMY, CREATE MORE JOBS

AfricaPress-Tanzania: Tanzania will on Friday this week join other African countries to commemorate Africa Industrialisation Day that lays emphasis on manufacturing as the engine of the country’s economy. This year’s theme is “Inclusive and sustainable industrialisation in the African Continental Free Trade Area (AfCFTA) era.

As it is often said ‘think globally, act locally’ for Tanzania it is an occasion to explore ways that can facilitate industrialisation process in the country.

Thus, Africa Industrialisation Day reminds us the importance of industrial development for sustained and inclusive economic growth of the continent.

This is because poor industrial growth has made most of the African countries continue having dependent economies, remaining in the vicious circle of poverty.

The situation has also made most of the African countries continue spending foreign currencies for importing goods from developed nations instead of investing in development projects.

An enabling environment created by the fifth phase government in the past five years has led to the establishment of more than 8,400 new industries and created 480,000 new jobs.

This is a clear indication that industrialisation is of critical importance for sustained and inclusive industries that can enhance productivity, increase the capabilities of the workforce and generate employment.

Delivering a speech to inaugurate the 12th Parliament in Dodoma last week, President John Magufuli said the government planned to create more than 8 million jobs for which the industrial sector was set to have considerable contribution.

President Magufuli stressed that more emphasis would be put in building more labour intensive industries that would not only create more jobs, but also industries, which utilised raw materials like leather, cooking oil and sugar.

This will go alongside with building industrial clusters depending on the type of crops grown in every region, an initiative that will create more jobs and reduce income poverty.

Government efforts on building the resilient industrial sector will thus reduce further income poverty in society.

Industrialisation has been touted across the African continent, its proponents  saying it will bring prosperity, new jobs and better the livelihoods of African people.

Learning from developed countries, if well managed industrialisation will help African countries achieve high growth rates, diversify their economies and reduce external shocks.

Industrialisation continues being the main avenue of successful development and Tanzania and other African countries can leverage the salient features of emerging technologies to their advantage.

Therefore, through industrialisation Tanzania and other African countries can build and strengthen skills and capabilities needed to compete and succeed in a new technological paradigm.

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