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United Kingdom to investment projects worth USD 2088.20 million- TANZANIA

Discussion in 'Biashara, Uchumi na Ujasiriamali' started by R.B, Oct 2, 2012.

  1. R.B

    R.B JF-Expert Member

    Oct 2, 2012
    Joined: May 10, 2012
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    [h=3]The former Minister for East African Cooperation and the current Ambassador to Belgium, the Netherlands, Luxembourg and the European Union, Dr Diodorus Kamala, has said that Tanzania remains the Gateway to East African Community Common Market.[/h] [​IMG]Dr Diodorus Kamala

    He pointed out that this was necessitated by leverages of the country’s macroeconomic stability, strategic geographical location, the heart of East African Community transport network and hub of EAC Master Power Plan.Dr Kamala made these highlights in a paper he presented in London this week during celebrations to mark Tanzania’s 50 years of Independence organized by Britain Tanzania Society and Tanzania Development Trust, held at the Royal Commonwealth Club.
    He added, the fact that Kenya, a member of the EAC Common Market crosses the border to invest in Tanzania signifies the importance of the country in investment opportunities and favourable investment environment.In the last 20 years, he said, United Kingdom leads the pack in terms of the number of projects various countries have in Tanzania. It has over 898 projects worth USD 2088.20 million,

    Kenya follows with 415 projects. Though India has fewer projects than Kenya, at 308 projects, their projects are valued at USD 1400.21 million.Other countries that follow are the Netherlands, China, USA, South Africa, Canada, Germany and Oman.He urged that investors are encouraged to take advantage of the East African Common Market by investing in Tanzania.

    Dr Kamala said Tanzania-based companies have succeeded in increasing exports to Uganda and Kenya.He postulated that Tanzania’s exports to Uganda and Kenya increased by 1330 per cent between 2000 and 2010.Tanzania’s imports from Kenya and Uganda increased from 100bn/- in 2000 to 378.8bn/- in 2010, which is an increase of 278.74 per cent.
    “By and large, Tanzania total imports from Kenya and Uganda as a percentage of GDP remained constant at 1.2 per cent by comparing Tanzania total imports as a percentage of GDP of 2000 and 2010,” he said.He said that in 2000, Tanzania imported 74.52 per cent of the total import in EAC from Kenya which increased to 96 per cent in 2010.
    “This underpins the argument that Kenya is Tanzania’s strategic business partner as opposed to Uganda. It is important to note Tanzania total export to Kenya and Uganda as percentage of GDP increased from 0.4 per cent to 1.07 per cent between 2000 and 2010 while Tanzania total imports from Kenya and Uganda as a percentage of GDP remained constant at 1.2 per cent.
    This fact suggests Tanzania’s economy is yet to reach the optimum level of growth and will continue to grow over time.
  2. Maundumula

    Maundumula JF-Expert Member

    Oct 2, 2012
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    Sawa export zetu to Kenya and Uganda zimeongezeka lakini tatizo sisi tuna export vitu ghafi, wenzetu wana process wanauza finished goods.