Dar es Salaam. President Samia Suluhu Hassan of Tanzania has assured investors that the country is open for business, emphasizing that the East African nation is a safe investment destination with friendly and sustainable investment policies.
Her remarks came this Saturday during the groundbreaking ceremony for a $50 million (about Sh124 billion) Liquefied Petroleum Gas (LPG) storage facility at GBP in Tanga.
In her speech, President Samia highlighted the government’s ongoing efforts to create a conducive environment for investment.
“We welcome investors and will continue to establish predictable and supportive policies that enable them to compete in both domestic and international markets,” she stated.
This assertion not only reinforces the Tanzanian government’s commitment to attracting foreign investment but also reflects an understanding of the competitive dynamics in the global marketplace, where consistent and reliable policies are essential for investor confidence.
The new LPG storage facility aligns with the goals of the National Clean Cooking Energy Strategy, aimed at enhancing the accessibility of cooking gas across the country.
This initiative is particularly significant in light of Tanzania’s commitment to improving energy access and promoting clean cooking solutions, addressing both environmental sustainability and public health.
President Samia noted that positive feedback from various investors, including GBP, about their experiences in Tanzania further demonstrates the effectiveness of the government’s business and investment policies, signaling a positive trend in investor relations.
Infrastructure improvements and regional connectivity
In a broader context, President Samia’s visit included a tour of Tanga Port, where she observed enhancements made through a substantial investment of Sh429 billion.
These improvements are strategically designed to boost the port’s capacity and efficiency, positioning Tanzania as a key gateway to East Africa.
The emphasis on port infrastructure is critical, as efficient transportation hubs are integral to trade facilitation and economic development.
Addressing employees of the Tanzania Ports Authority, President Samia stated that improvements at major ports along the Indian Ocean—Dar es Salaam, Mtwara, and Tanga—along with planned developments in Bagamoyo, will secure Tanzania’s status as a vital trade and investment hub in the region.
This strategic approach not only enhances regional connectivity but also aims to attract further investment by ensuring that logistical frameworks are in place to support economic activities.
Road development as a catalyst for growth
Discussing infrastructure development in Tanga, President Samia announced plans to construct the Handeni-Kiberashi-Kijungu road to Singida through a Public-Private Partnership (PPP) model.
This initiative illustrates the government’s commitment to leveraging private sector involvement in infrastructure development, which is crucial for resource mobilization and efficient project execution.
She emphasized the road’s importance for the development of Tanga Port, indicating that the government would seek an investor to finance its construction.
The model proposed allows users, including freight trucks, to contribute to maintenance costs, thereby fostering a sense of shared responsibility and improving logistical efficiency.
Such infrastructure investments are not only vital for enhancing transport networks but also for stimulating local economies and facilitating trade.
Community engagement and development projects
Concluding her seven-day visit to Tanga, President Samia toured all eight districts in the region, engaging with local residents and inspecting government development projects valued at over Sh600 billion, alongside private sector initiatives worth more than Sh500 billion.
This hands-on approach reflects her administration’s focus on community involvement and transparency in governance, which are essential for building trust and ensuring that development initiatives align with the needs of local populations.
By directly engaging with citizens, President Samia demonstrates a commitment to inclusive governance, reinforcing the notion that effective leadership requires active participation and feedback from the community.
This not only enhances the legitimacy of government initiatives but also fosters a collaborative environment for development.
