Mbeya City has extended an invitation to private-sector investors to participate in the development of its proposed central market, a project with an estimated cost of 15bn/- to 18bn/-. This initiative is part of the government's efforts to expand investment opportunities and create employment. The appeal was made during discussions between government officials and stakeholders aimed at strengthening investment cooperation and promoting economic growth.
The proposed central market is a key component of Mbeya City's Vision 2050, which aims to increase the private sector's contribution to national economic growth to 70 per cent. Mbeya City's Head of Industry, Trade and Investment, Mr Festo Nashon, emphasized the essential role of private-sector involvement in facilitating large-scale infrastructure projects, including the proposed market. He encouraged traders and business stakeholders to participate in government-organized meetings to understand available investment opportunities.
Mr Nashon further explained that the Public-Private Partnership (PPP) arrangement would provide an opportunity for different investors to participate in the project, potentially expanding business opportunities and creating employment, particularly for young people. The PPP framework is expected to enable several investors to share the project, opening up more employment opportunities, especially for youth. This approach is seen as a way to ensure the project's success and sustainability.
The PPP Centre's Head of Projects' Preparation and Development, Mr Innocent Mauki, stated that the institution regularly engages with local government authorities and stakeholders to collect their views before investment opportunities are formally presented to potential investors. Besides the central market, Mbeya City has another project earmarked for implementation through the PPP framework, which is the rehabilitation of an abattoir.
Mr Mauki stressed that successful PPP projects must be economically sustainable, affordable to citizens, and supported by an environment that allows investors to operate effectively. He emphasized that investment projects should deliver meaningful public benefits while ensuring that the services provided remain accessible to the intended beneficiaries. This approach is crucial to ensuring the project's long-term viability.
Economist in the Prime Minister's Office, Regional Administration and Local Government Authorities, Mr Fulgence Matemele, supported increased private-sector participation in implementing Vision 2050. He noted that there is proper coordination to ensure PPP projects achieve their intended objectives and contribute to citizens' welfare. This coordination is essential to maximizing the project's impact and benefits.
Maranatha Company's Chief Marketing Officer, Mr Shitindi Venance, encouraged young people to develop digital systems that could support project implementation and improve efficiency. He also urged Tanzanians to take advantage of the investment opportunities created by the government, saying greater participation would strengthen both individual businesses and the national economy. By leveraging these opportunities, Tanzanians can contribute to the country's economic growth and development.
Key points
- The proposed central market project is estimated to cost between 15bn/- and 18bn/-.
- The project is part of Mbeya City's Vision 2050, aiming to increase the private sector's contribution to national economic growth to 70 per cent.
- The Public-Private Partnership arrangement is expected to enable several investors to participate in the project, creating employment opportunities, especially for young people.
