Tanzanian government urged to make heavy investments in key sectors

Impact Investment

Tanzanian members of Parliament on Monday urged the government to invest heavily in key sectors, including mining, tourism, agriculture and livestock in order to achieve economic development targets.

The MPs made their appeal to the government in a report by the parliamentary committee on budget tabled in the House by its chairperson Daniel Sillo in reaction to the Economic Survey 2022 and the National Development Plan for 2023/2024 presented last week by Minister for Finance and Planning Mwigulu Nchemba.

According to Sillo, the committee also urged the government to encourage the implementation of mega projects through public-private partnership, saying this has proven to be effective in various countries across the globe.

He said the committee urged the government to allow private investors to execute mega projects so that these projects will be able to be implemented according to international standards and at the same time create jobs for local people and reduce poverty.

Sillo said the committee felt that strengthening infrastructure and improving the environment of doing business will greatly attract investors and thus stimulate economic growth. Enditem

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