Tanzania: Government outlines key investment areas

Posted on :Friday , 21st October 2016

The government of Tanzania has marked eight areas to private investors as part of industrialisation efforts in the country’s endovour to becoming a middle-income economy by 2025.

The areas announced by the Minister of Industry, trade and investment, Charles Mwijage in the capital, Dar es Salaam are manufacturing, infrastructure development, agriculture, mining, tourism, fishing, power generation and information and communication technology (ICT).

The east African country hopes to become a semi-industrialised middle-income country by 2025.

Mwijage said the sectors are endowed with abundant natural resources, but the country was unable to exploit them due to technological and financial constraints.

“We are looking forward to increasing investment in these areas as we have good opportunities here,” he said.

The Tanzania investment Center Director of Investment promotion, John Mnali had earlier said there was a wide market for investors in the country in form of neighbouring landlocked countries.

Being a member of the East African Community (EAC), the country’s products can be sold in six countries, while its Southern African Development Community (Sadc) membership further increases its export market.

Dar es Salaam Stock Exchange CEO Moremi marwa asked the government to be specific and walk the talk on its export market.

He challenged the government to outline priorities based on importance and capabilities, adding that this was crucial if Tanzania’s dream of becoming a middle-income economy in the next nine years was to be realised.

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