IN what sounds to be something akin the European Marshall Plan after economies of the countries in Europe went on their knees at the end of World War II, Eastern and Central African leaders last week convened in Dar es Salaam for a similar initiative. The Marshall Plan required a lessening of interstate barriers, a dropping of many petty regulations constraining business and encouraged an increase in productivity, as well as adoption of modern business procedures. In a similar style regional leaders last week pledged to use the Central Transport Corridor to unlock the region's social and economic potential. The leaders, among other things, flagged off four modern cargo trains with consignments destined to Burundi, eastern Demoratic Republic of Congo (DRC), Rwanda and Uganda. They rightly observed that the launch of the corridor would herald the beginning of the new way of doing things after a long period that was dominated with wasteful hauling of millions of tonnes of cargo along the over-stretched roads. The leaders were out to lure investors for a massive plan to upgrade infrastructure in the region that has made big hydrocarbon discoveries. The East African Community (EAC) member states - Tanzania, Kenya, Uganda, Rwanda and Burundi, whose combined gross domestic product (GDP) is $110.3 billion (about 204tri/-), are working to package joint infrastructure plans aimed at boosting trade and speeding up economic integration in the region. Oil and gas discoveries in Kenya, Uganda and Tanzania have turned the region into a globally reputed exploration hotspot....
Tanzania: Central corridor projects to unlock regional economies
Posted on: April 1, 2015
Posted on: April 1, 2015