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Tanzanian gov't allocates 20 mln USD for kick-starting industrialization drive

Xinhua, May 7, 2016 Adjust font size:

The government of Tanzania on Friday announced the allocation of 20 million U.S. dollars for kick-starting an industrial economy in the east African nation.

Charles Mwijage, the Minister for Industry, Trade and Investment, said the government will start with implementation of 18 projects that are set to enable the country to realize industrial economy in the near future.

Mwijage told the National Assembly in the country's political capital of Dodoma that undertakings that have been given priority included the Liganga and Mchuchuma coal projects in Njombe region.

"Projects that are set to be implemented in the 2016/17 fiscal year include those under the Big Results Now initiative," he told the august House.

The minister mentioned another strategic project as the Lake Natron soda ash venture which was set for the finalization of technological and economic studies, protection of water sources, land evaluation and compensation to people living near the area.

Another project to be implemented in the forthcoming financial year that starts on July 1 was the General Tyre manufacturing plant in Arusha region.

Tanzania is developing its industrial sector to meet its Development Vision 2025 which visualizes creation of a diversified and semi-industrialized economy which will have a substantial industrial sector comparable to typical middle-income countries come the year 2025.

Tanzania exported manufactured goods worth 1.267 billion US dollars during the year ending September 2015, according to Bank of Tanzania figures. Endit