Tanzania’s economy will grow by 10 percent by 2020, said President John Magufuli.
Revealing at the State House in Dar es Salaam during a New Year Diplomatic Sherry Party, the president added industrial sector will be the major contributor in boosting up the economy.
Magufuli added his government will stimulate the economic growth rate and also lure overseas investors citing the country offers a befitting environment to their investment, particularly in the industrial sector.
He urged representatives of diplomatic missions to help in bringing investors to Tanzania as well as to woo partners to work jointly with the government in projects like 1,200 kilometers standard gauge railway line between Kigoma and Dar es Salaam via Mwanza which is to connect neighboring countries too including Burundi, Democratic Republic of Congo (DRC) and Rwanda.
The Magufuli government is also to kick off a 300 kilometer stretch between Morogoro and Dar es Salaam and the second phase of national development programme estimates to cost 107 tr, about 59 tr is to be paid by the government while rest to be catered by development partners.
Ambassador Edzai Chimoyo of Zimbabwe spoke on behalf of other diplomats. He commended Magufuli’s efforts in reviving the economy of the country apart from enforcing discipline and fighting corruption. All of them vowed their support to help the government reach development goals.