Peace, stability draw more investors, says Uhuru Torch leader

KARATU: THE country’s prevailing peace and stability continue to attract both local and foreign investors, with the government pledging to strengthen an investment-friendly environment in line with the National Development Vision 2050.

The National Leader of the 2026 Uhuru Torch Race, Mr Wazo Mwang’onda, made the remarks while laying the foundation stone for the 1.5bn/- Chui Hidden Lodge project in Karatu District.

He said the government values the contribution of investors to economic growth, noting that Vision 2050, launched this month, places greater emphasis on private sector investment as a key driver of sustainable development.

Mr Mwang’onda said the government will continue working closely with investors by addressing challenges affecting their projects in a timely manner.

He said reforms undertaken under President Samia Suluhu Hassan’s leadership have enhanced Tanzania’s attractiveness as an investment destination, with the private sector expected to play a central role in achieving the country’s long-term development goals.

“President Samia Suluhu Hassan continues to create a favourable investment environment. Whenever investors encounter challenges, the government steps in to resolve them, enabling investments to flourish. Tanzania remains peaceful and conducive for business,” he said.

He cited the Chui Hidden Lodge project as an example of the government’s commitment to supporting investors, saying authorities resolved the project’s electricity challenge by installing a transformer and connecting power to the site free of charge.

Presenting the project report, Chui Hidden Lodge Director Abiola Thomson said the 20-room facility is being developed at a cost of 1.5bn/-. He said the investment has already created jobs, boosted tourism and increased government revenue.