FDIs

The government of Tanzania said on Tuesday it will support initiatives aimed at creating joint venture investment projects in the 2020/2021 financial year as the east African nation moves toward an industrial economy.

Minister for Finance and Planning Philip Mpango told parliament in the capital, Dodoma, that the creation of joint venture investment projects between the public and private sectors will go in tandem with improving the investment environment.

Presenting the National Development Plan and Budget Guidelines for 2020/2021 in the House, Mpango said the joint venture investment projects will focus on selected projects, including production of pharmaceuticals.

Other projects that were intended to attract joint ventures include the distribution of natural gas in Dar es Salaam, Lindi and Mtwara regions and the construction of a four-star hotel and business center at the Julius Nyerere International Airport in the commercial capital, Dar es Salaam, he said.

The government intends to engage public-private joint ventures for the management of the first phase of the Dar es Salaam rapid transit and the construction of the standard gauge railway from Tanga-Arusha to Musoma, the minister said. Enditem

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