The government is not happy with investors who import agricultural products, while similar commodities produced by the surrounding community are rotting for lack of markets.
`It pains to see that some investors are importing raw commodities, although just on their door steps, similar produces are left to decay,` the Vice-President, Dr. Mohamed Shein said.
Officiating at the inauguration of the ultra modern East African All Suites Hotel, owned by the Parastatal Pension Fund, Dr. Shein said:`Investors into hospitality industry should give local produce the first priority. It is only that way that their investment will be of benefit to the native peasants.`
He said while it was true that there were some commodities that were not produced locally, this should not be taken as an excuse.
The Vice-President hailed PPF for establishing the project in Arusha, Tanzania`s safari capital.
Dr. Shein said the facility had come at the right time, as the country was working extra-time to host the eighth edition of the Sullivan Summit come June, 2008.
`Over the course of one week, the Sullivan Summit will host nearly 3,000 Africa`s Diaspora, mostly from America` Dr. Shein said, adding,` there will also be 30 African Heads of State, corporate executives, policy-makers and academics to discuss areas of cooperation and planning for infrastructure, investment, tourism and the environment across Africa.`
The Board Chairman of PPF, Grey Mgonja, said the construction of the hotel, which started way back in 2004, was completed early 2007.
The 40 all-suite-room hotel has five conference halls, each with capacity to host 218 people and two restaurants able to accommodate 160 people each. It will be managed by Paradise Group,` Mgonja said.
`The hotel has created 145 decent employment opportunities. It will generate 740m/- on annual basis.
This will lead to recovery of investment costs within four years,` he said.
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