30 November 2017

Tanzania: Optimism High As Mwanza Investment Guide Kicks Off

THE Mwanza regional administration has officially launched 'Mwanza Investment Guide (MIG)' to propel investor interest in the Lake Victoria-side region that has all the hallmarks of one of fastest growing economic hubs in the East African regional bloc.

Speaking during the launching ceremony held here on Monday and attended by people who included government officials and Members of Parliament, the Mwanza Regional Commissioner, Mr John Mongela, said the economic guide would enable investors to explore the available opportunities in the region as she will become the centre of excellence for investment issues for the East African Community (EAC) member states - Tanzania, Kenya, Uganda, Rwanda, Burundi and South Sudan.

MIG was prepared by the Economic and Social Research Foundation (ESRF) under United Nation Development Programme (UNDP) funding, aimed at pushing the region into a middle income economy by 2025.

"We are developing a scientific process to attract both domestic and foreign investors into our region as we have solid security for investments," said Mr Mongela.

On the President John Magufuli's recent directive for each region to establish 100 small and medium-sized industry every year, Mr Mongela said he would meet the district commissioners for the region's seven districts to chart strategies for implementation.

On his part, the ESRF Executive Director, Dr Tausi Kida, said the launch of Investment Guide would fast-track Mwanza Region's development. He added that the guideline included research reports and investment opportunities analysis, covering agriculture, livestock, fishing and the mining sector.

On his part, the UNDP Project Expert, Mr Amon Manyama, promised to sustain cooperation with stakeholders, towards attaining success in the ambitious venture.

Speaking at the same function, the Confederation of Tanzania Industries Executive Director, Mr Leodiga Tenga, promised to play his full part, towards contributing to the attainment of President Magufuli's drive to spearhead Tanzania towards industrial economy status.

"If you plan well, you are sure to succeed; Mwanza and the country's industries will be successful; I personally congratulate the President for this commitment," he said.

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