Dodoma, Tanzania – (African Boulevard News) – In a bid to attract more investment and avoid over-reliance on a single partner, Tanzanian president Samia Suluhu Hassan has broken up the Bagamoyo project into different tranches. The Bagamoyo project is a scheme to build a major port in Tanzania along the Indian Ocean, which has been in the works for several years.
The decision by President Samia to divide the Bagamoyo project into different tranches has been widely welcomed by industry experts and investors alike. It is expected that this move will help to attract more investors from diverse backgrounds, thereby reducing the country’s dependence on a single partner.
The Bagamoyo project was originally intended to be a joint venture between Tanzania and China, with China’s state-owned China Merchants Port Holdings (CM Port) being the major partner. However, concerns were raised about Tanzania’s over-reliance on China, which led to President Samia’s decision to break up the project.
According to experts, breaking up the project into different tranches will help to make it more attractive to investors from other countries. This move is also expected to help reduce the risks associated with the project, as it will no longer be solely dependent on one partner.
In a statement, the president’s office said that the move was aimed at “minimizing financial risks associated with large development projects that can lock a country into debt traps.” The statement added that the government is committed to attracting more investors to the country by creating a conducive environment for investment.
The decision to divide the Bagamoyo project is a clear indication of President Samia’s commitment to promoting economic growth and development in the country. By breaking up the project into smaller tranches, the government hopes to attract more investors and create more jobs for Tanzanians.
In conclusion, President Samia’s decision to divide the Bagamoyo project into smaller tranches is a positive move that will help to attract more investment to Tanzania. It is also expected to reduce the risks associated with the project and promote economic growth and development in the country. As Tanzania continues to seek ways to attract more investment, it is important that the government creates a conducive environment for investors to thrive. This can only be achieved by implementing policies that are aimed at promoting economic growth and development in the country.
