BY GODFREY OBONYO
25th October 2014
The multibillion dollar projects will cover a range of development sectors starting from socio-economic development infrastructures such as industrial sector, energy utilities, transportation, health care, human settlements and other useful social services.
The development pact comes at the backdrop of the signing ceremony held mid this week at the Beijing State rest house (Diaoyutai), as President Jakaya Kikwete and his counterpart Xi Jinping led the sector representatives to ink memoranda of understanding (MOU) as part of procedures to gracing the deal.
A State House statement Thursday said the trade and diplomatic move was made effective right from the signing of MoU, Thursday October 23 and is expected to throw billions of US dollars into Tanzania’s economy.
The business exchange initiative is part of the third investment meet between China and Tanzania, aimed at fulfilling the core objectives of the historic trade and diplomatic relations between the two countries, the State House declared.
The presidential communication unit said that trade agreements made in the pact include that of the National Housing Corporation (NHC) and China Railway Jianchang Engineering (CRJE) Company that will attract over one billion US dollars into the Tanzanian economy.
The development initiative will also spare another one billion US dollars in construction of a new city in Dar….(Salama Creek Satellite) at Uvumba area in Temeke district, Dar es Salaam with 500 million dollars are invested to construct modern financial square at Upanga, close to the central business district.
However, document says in part that NHC will also receive over 200 million US dollars from China’s Poly Technologies for construction of Valhalla project at Masaki, the city’s premier high profile suburb.
In the same business drive, the country’s electricity supply company (TANESCO) has entered a trade deal with China’s Hengyang Transformer Company where TANESCO is set to receive million of dollars worth of transformers to fast tract electricity supply in rural areas, and for the Kinyerezi IV power generation project.
The trade deal went further to cover the road development sector where Temeke Municipal Council signed a memorandum with the Jiangyin Tianhe Gasses Group for construction of tarmac roads in the municipality including the Kikwete Friendship Highway in the district.
A projected industrial development area in Coast region was also inked with China’s Jiansu Shenli Plastics Group, where the Chinese firm shall invest massively in industrial development at Mlandizi town in the region. Coast Regional Commissioner Mwantumu Mahiza made the pen-work, witnessed by President Kikwete.
President Kikwete urged African states to adopt the best economic policies that would speedily transform the continent to stable and sustainable economies in the shortest time possible.
At a meeting with Zhang Dejiang, the Speaker of the country’s legislature, the China National People’s Congress (NPC), at Parliament House, known as the Great Hall of the People, in Beijing.
He said that rapid economic transformation is possible among African states only if we will adopt good governance and with transparency in economic policies.
He said sharp economic transformation models applied by China in recent decades were big challenges to the least developing countries and would serve as best examples, if ideal development is to actually become upfront agenda of African leaders.
He affirmed that China has been recording huge economic growth since the early 1980s when he visited the country the first time. “By then China was among least developing economies but has made huge strides in the past 30 years to make it the second largest economy in the world,” the president observed, emphasizing that the way China changed was a challenge to the slowest growing economies.
Making his remarks in the meeting, Speaker Zhang said Tanzania is among China’s leading business partners where, his region of Guangzhou was exporting up to 60 per cent of its industrial produce to Tanzania.
Zhang who lastly visited Tanzania seven years ago as Regional Secretary of the ruling Communist Party for Guangzhou, praised Tanzania and China closer trade and diplomatic ties that have lasted over 50 years, saying the whole world would vie for the same for sustainable development.
SOURCE: THE GUARDIAN
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