At 150pc, Tanzania records sky-high leap in investments

DODOMA: THE Tanzanian government has recorded a sky-high success in its major development projects, with the increase in investments rising far above the rest.

The Minister of State in the President’s Office – Planning and Investment, Professor Kitila Mkumbo, revealed the figures today in Parliament in Dodoma while presenting the Government’s Development Plan Proposal for the 2025/26 fiscal year along with the National Economic Status Report for 2024.

Professor Mkumbo said an increase in investments registered through the Tanzania Investment Centre (TIC) recorded a gigantic a 150 percent increase, a  63-percent increase was  recorded in electricity generation, 100 percent increase in village electrification and  94 percent achievement in  rural water coverage.

 Statistics indicate that by January 2025, a total of 9,711 development projects and programmes were at various stages of implementation under the Third National Five-Year Development Plan (2021/22 – 2025/26).

In his statement, Professor Kitila said the government is also implementing 17 flagship projects aimed at accelerating economic growth and enhancing social well-being.

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He explained that during the 2024/25 financial year, the government took several key steps in implementing the national development plan, including the construction of transport and logistics infrastructure such as the Standard Gauge Railway (SGR), flyovers, procurement of ships, construction of the Fishing Port, and improvement of the national airline (ATCL).

Other steps include the completion of the Julius Nyerere Hydropower Project, promoting industrial production, strengthening the mining sector, increasing tourist numbers and tourism revenues, and improving the business and investment environment.

Additionally, the government has continued to enhance social services such as education, health, water supply, electricity, and agricultural productivity.