Tanzania steps up push to attract investment in sugar sector
Tanzania is accelerating efforts to attract local and foreign investment in the sugar sector to close its 700,000-tonne demand gap. New projects in Morogoro, aligned with Tanzania Development Vision 2050, aim to boost production, achieve self-sufficiency, and expand private-sector-led growth in the agri-industrial economy.
Morogoro: The Tanzanian government is stepping up efforts to attract both local and foreign direct investment into the sugar sector in a bid to end the country’s long-standing sugar shortage, Daily News reported.
This was announced by the Minister in the President’s Office for Planning and Investment, Kitila Mkumbo, during a visit to Mkulazi village. He was touring Agro Tech Company, which has acquired a large tract of land in Morogoro Region for sugarcane cultivation and sugar production.
Prof Mkumbo, accompanied by Permanent Secretary Fred Msemwa and Tanzania Investment and Special Economic Zones Authority Director General Gilead Terry, said ongoing investments would help the country achieve self-sufficiency in sugar within the next few years.
He noted that Tanzania’s annual sugar demand stands at about 700,000 tonnes and said new investments are expected to significantly reduce the supply gap. The minister added that the government continues to create a supportive environment to encourage private sector participation.
Referring to the national development blueprint, Tanzania Development Vision 2050, he said one of its goals is to place Tanzania among the top 10 food-producing countries in Africa. Under the plan, about 70 per cent of the projected GDP of 1 trillion Tanzanian shillings is expected to come from the private sector, driven largely by investment.
The minister is currently in Morogoro Region to assess investment levels, particularly in the sugar industry. During his tour, he is scheduled to visit Kilombero Sugar Company and Mkulazi Sugar Company and will also hold a separate meeting with investors operating in the region.
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Source : Chinimandi
