Dar es Salaam. China has invested in Tanzania projects worth $1.8 billion in the 10 years since President Xi Jinping’s last visit to Tanzania
Tanzania Investment Center (TIC) executive director Mr Gilead Teri said that Chinese investment has been of great impact to the country in terms of trade investment, job creation and relationship.
“For the past 10 years, China has registered 1,908 projects worth $1.6 billion in the mainland and 15 projects in Zanzibar worth $220 million,” he said.
He made the remarks at a symposium marking the 10th anniversary of President Xi Jinping visit to Tanzania.
Mr Teri mentioned some areas that China has invested in over the years being manufacturing, tourism and agriculture among many others.
He was optimistic that the government would increase the budget to enable China and other investors to increase the investment in Tanzania.
China’s ambassador to Tanzania Chen Mingjian explained that China-Tanzania pragmatic cooperation has maintained a momentum of growth over the past decade.
“We have remained Tanzania’s largest trading partner and largest source of foreign investment for years. In 2022, the trade volume between two countries increased by 23.7 per cent year by year reaching $83.1 billion which is 35 times that of 2012,” she said.
According to her, by the end of 2022, China’s direct investment stock in Tanzania was 2.5 times that of 2012.
Speaking at the event, Sinotan Industrial park chairman Mr Jason Huang said conducive policies of the country are attracting them to invest in Tanzania.
“We are optimistic that the industrial park will be completed within the five year term of President Samia Suluhu Hassan. Therefore, Chinese investors should come and invest in Tanzania and we are happy that the relationship is growing stronger and stronger,” he said.
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Tanzania: Exim to Raise Fund for Mental Health Facilities Upgrades
EXIM Bank to raise 300m/- over the next three years for financing essential services and infrastructure upgrades in mental health facilities.
The bank’s Head of Marketing and Communications Stanley Kafu unveiled this when introducing Exim Bima Festival 2024 as a platform for bringing together individuals, organisations and various sectors for raising the funds.
“Exim’s initiative aligns with the government’s broader goals to ensure that every citizen has access to quality healthcare, including mental health services,” he said.
The initiative, which is one of the events for celebrating the bank’s 27th anniversary is scheduled for Wednesday this week in Dar es Salaam.
Mr Kafu highlights that this year’s festival is not only about raising awareness of the importance of insurance in the society but also focuses on enhancing access to mental health services and improving the overall well-being of the nation.
Statistics from the Ministry of Health shows a staggering 82 per cent increase in mental health cases over the past decade.
Mental cases have risen from 386,358 in 2012 to 2,102,726 in 2021, making the need for mental health services more urgent than ever.
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Unfortunately, the country’s ability to address this growing challenge is hindered by a shortage of mental health professionals, infrastructure, medical equipment and essential medication.
For example, out of the 28 regions in the country, only five have facilities that provide adequate mental health services.
The most affected group is the youth aged 15 to 39, who represent the nation’s workforce, underscoring the need for intensified efforts to safeguard this generation for Tanzania’s future well-being and development.
Mr Kafu said by improving mental health services, Exim aims to contribute to the creation of a network of communities that can access care quickly and affordably.
Exim Insurance Department Manager Tike Mwakyoma said they are appreciating the support from partners in the insurance industry, who have stood by them since the last festival.
“Let’s continue this unity for the development of all Tanzanians and our nation as a whole,” the manager said.
Source: allafrica.com
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Zanzibar airport operators decry job losses over Dubai deal
Tanzania air operators say over 600 workers are set to lose their jobs after the semi-autonomous government of Zanzibar awarded a Dubai-based company exclusive rights to handle ground services at a refurbished airport.
The Tanzania Air Operators Association (Taoa) said in a statement that the contract awarded to Dnata, which is registered at the London Stock Exchange, was in breach of the law banning any company from having exclusive rights to ground-handling services at major airports.Continue Reading
