Browsing: Turkey Tanzania relations

Tanzania stands to draw billions from construction and investment projects 

Business
  • President Samia has doubled down on business and investment in Tanzania
  • Tanzania has adopted a new tone towards foreign direct investment
  • Tanzania is striving to become the best tourism hotspot in Africa

As a lower-middle-income country, Tanzania is putting in a considerable amount of work to build itself towards attaining its industrial revolution objective.  

The industrial driven economy mission and energy inspired by the late President John Magufuli has spilt over to the incumbent presidency – under Samia Suluhu Hassan.  

Over the past six years, Tanzania has taken tremendous steps towards achieving its primary objectives, including upgrading its economic status, which was done swiftly and within time. 

With the entire globe faced with uncertainty propelled by the COVID-19 pandemic, Tanzania has remained relatively stable and accommodative to crucial sectors of the economy, such as banking by improving money supply and credit, information and communication, as well as agriculture. 

Despite inflation

…

Turkish firm Yapi Merkezi signs a $1.9 billion agreement with Tanzania

Industry and Trade
  • Construction of a 368 KM stretch of standard gauge railway, estimated to cost $1.9 billion signed between Tanzania and Turkish business Yapi Merkezi.
  • Tanzania to allow more Turkish investors to invest in Tanzania aimed at developing national infrastructure. 
  • Tanzania SGR Construction will seek to expand trade relations with Uganda, Rwanda and the Democratic Republic of Congo

To connect Tanzania to Rwanda and Uganda, as well as Burundi and the Democratic Republic of Congo through these two countries, the Tanzania Standard Gauge Railway (SGR) is currently being built. The new Tanzania SGR is designed to replace the outdated, inefficient meter-gauge railway system and relieve traffic congestion. Freight expenses are also predicted to drop 40%. Up to 10,000 metric tonnes, or 500 tractor-trailer loads, are planned to be hauled by each freight train.

One of three parts of Tanzania’s 1,219-mile Yapi Merkezi rail line, which is expected to be completed by the …