Tanzania: Tic Identifies Railway Investment Openings

TANZANIA Investment Centre (TIC) has embarked on a process to prepare strategic plan to identify investment opportunities emanating from tapping the Standard Gauge Railway (SGR).

TIC Executive Director Dr Maduhu Kazi on Wednesday held a meeting with some heads of government's institutions preparing the document.

The initiative comes at a time when the construction of the SGR section from Dar es Salaam to Morogoro region is at final stages.

When Prime Minister Kassim Majaliwa toured the project last month, the construction of the 300-km section from Dar es Salaam to Morogo was 87 per cent complete.

The meeting was attended by heads of Tanzania Railway Corporation (TRC), Tanzania Ports Authority (TPA), Land Transport Regulatory Authority (LATRA), Tanzania Revenues Authority (TRA) and representatives from the Lands, Housing and Human Settlement Development.

Speaking at the meeting, Dr Kazi said according to the investment law of 1997, among other mandates of the TIC is to identify investment opportunities and promote them.

Dr Kazi explained that the construction of the SGR comes with number of investment opportunities for other sectors to flourish.

"Therefore we decided to convene a meeting of heads of government responsible institutions before having stakeholders' meeting," he stated: "The purpose of this railway is more than transportation, this is why the TIC has seen it is important to identify investment opportunities and other economic activities that would be conducted alongside the railway," he said.

Presence of this railway is part of improvements in investment environments done by the government.

TRC Director General Masanja Kadogosa commended the TIC for its efforts in coordinating the preparation of the investment plan, saying the TRC will accord cooperation in order to ensure that the railway brings benefits to the public.

TRA Commissioner General Dr Edwin Mhede advised that the preparation of the plan should involve the private sectors and more other stakeholders from the public sector.

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