PRESIDENT Samia Suluhu Hassan's recentf foreign visits have attracted significant invest- ments in the country, with a record 9.2 US bil- lion dollars (21.3tri/) investment projects registered in just three months.
The President's trips abroada are part of the country's deliberate efforts to tap into economicd iplomacy for the much-envisaged domestic economic growth.
This was revealed by theP ermanent Secretary in the Ministry of Investment, Industry and Trade, Prof Godius Kahyarara at the State House in Dar es Salaam, yesterday, noting the figure was recorded from March toJ une 28, 2022.
At the event, which brought together cabinet ministers and officials from various ministries, Prof Kahyarara said the projects, mainly from the United State, were registered within a short pe-riod of time, describing it as a big
step as the country throws weight
behind economic diplomacy in
an effort to attract foreign invest-
ments.
"This will have positive
impacts on employment oppor-
tunities... it's true that the Royal
Tour initiative has a big contributions this," the permanent sec-
retary said as he commended the
Royal Tour initiative for market-
ing the country.
Elaborating, Prof Kahyara-
ra said as of 27 June, this year,
Tanzania recorded increased
number of flights arriving at
Dar es Salaam's Julius Nyerere
International Airport (JNIA),
increasing from 93 to 122 per
week, comparing to figures
listed before, during and post
Covid-19 period.
With the government deter-
mined to boost foreign exports
towards Gross Domestic Prod-
uct (GDP) to 30 per cent by the
year 2025, the Permanent Sec-
retary added that the country's
exports currently stand at 10
billion US dollars.
On the other side, the Min-
ister of Livestock and Fisher-
ies Mr Mashimba Ndaki said
the opening of meat markets
in Saudi Arabia and Oman
will bring a multiplier effect to
the country's economy since
National Ranching Company
Limited (NARCO) will be
forced to buy more livestock
from pastoralists and four pro-
cessing industries in the coun-
try which were underutilized
will operate in full capacity.
"We have four meat pro-
cessing industries which were
operating at only 20-30 per
cent of their capacity... . the
reason was limited market," Mr
Ndaki said.
As the country eyes more
investors, the Minister of En-
ergy January Makamba told
reporters that the government
has set aside 1.2bn/- to improve
power supply in the next finan-
cial year.
Earlier, Director of Presi-
dential Communication, Ms
Zuhura Yunus explained
about the Memorandum of
Understandings (MoUs)
signed between Tanzania
and Oman during President
Samia's tour which she con-
cluded recently.