DAR-ES-SALAAM-- Korean electronics giant LG Electronics is studying the possibility of establishing an assembly plant in Tanzania to tap into the country's rising middle class consumers and to reach the wider East African market.
LG Electronics General Manager for East Africa Moses Marji said at the ongoing 42th Dar es Salaam International Trade Fair here over the weekend that Tanzania was an important growing market for the company and its strategic location would enable LG to reach the East African regional market.
There are various issues that we have to take into consideration before coming to a decision to invest because as of now the country is going through a transition, including a change in the laws and other key elements in the investment sector; therefore we will make our decision based on all those issues in the end, he added.
He said what mattered most is the quality of products and the intended factory to be established will bring into reality the idea to use home-made products. It was crucial to establish the plant in the country so that the customers could feel that they are using their own home-made products, he said.
The electronics multinational which posted its highest ever revenue of 57.9 billion US dollars in 2017, despite falling smartphone sales, is currently participating in the trade fair where it has introduced new products that have entered the market.
Source: NAM NEWS NETWORK