Mwanza targets Sh10 trillion GDP contribution with new investment blueprint

        Mwanza. Mwanza has launched its regional investment guide as it puts itself on the right path to grow its contribution to Tanzania’s gross domestic product (GDP) by the year 2025.

The Mwanza Regional Investment Guide is a brainchild of the region’s authorities in partnership with the United Nations Development Program (UNDP) and the economic and social research foundation (ESRF).

It seeks to lead Mwanza on the implementation of development projects in major economic sectors including, agriculture, fishing, mining, manufacturing industries and livestock, according to Regional Commissioner, Mr John Mongella.

Currently, Mwanza contributes about Sh7.4 trillion to Tanzania’s Sh103 trillion GDP. It is second from Dar es Salaam.

“Our goal is to raise Mwanza’s contribution to GDP to Sh10 trillion per annum come the year 2025,” he said.

To achieve the goal, in line with the launched regional investment guide, there shall be established a special team from government institutions which will be trusted with the powers of dealing with investment licenses and certificates so as to cut beauracracy.

“This is not really intended to oversight the current procedures…except we should go away from beaucracy systems which sometimes hinder investment,” Mongella said.

Mr Mongella mentioned the livestock sector, fishing, tourism, mining, agriculture (irrigation) and other social services like education, health and sports as key drivers for Mwanza’s economic growth aspirations going forwards.

“Mwanza is the business hub for member states of the East African Community and we intend to make use of that opportunity to attract more investment and business,” Mongella revealed.