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Watching Lake Zone regions become focus of economic growth

April 21, 2023
Lake Zone Watch
125 Comments

BY GUEST WRITER

In the history of Tanzania’s development, the Lake Zone regions have been an active business community driving economic growth. The regions of Geita, Kagera, Mara, Mwanza, Shinyanga and Simiyu have had an important role to play in shaping a broader vision, greater resilience, stronger entrepreneurship, and a fair share of promoting openness and development.

These regions with their huge populations are the home of such lucrative industries as mining, coffee and cotton farming, livestock development, fishing and tourism. In these regions a new round of technological revolution and industrial transformation is gathering pace, and science and technology are playing an even more significant role in boosting social productivity.

Step by step, these regions can surely turn their vision into reality and deliver a better life for their people in a country already striving to be deeply integrated into the global economy and the international system.

There is no country in today’s world which can develop itself by keeping its doors closed. Openness to prospective investors in various sectors of the national economy will enable the Lake Zone regions move forward because of their rich resources and the country’s friendly investment climate.

In Tanzania, what we have achieved during the past 37 years of the country’s reform and opening-up shows one thing: Reform is crucial for unleashing and boosting productivity. For the Lake Zone regions to grow and prosper, they must also accelerate the building of a modernized economy, strengthen protection of property and intellectual property rights, set up a high-standard market system and improve mechanisms for fair competition.

For people who have frequently visited the Lake Zone regions, they may have jumped at every opportunity to explore more of these awe-inspiring areas of Tanzania and meet more of their entrepreneurs. The graphic picture one gets is the conviction that Tanzania’s entrepreneurs will write the future of their country.

So, the best way to help them is to support their growth and give them the basic tools they need for their entrepreneurship. Experience has taught us that no entrepreneur can go it alone: There are important roles to play for government, educators, venture capitalists, industry associations and start-up incubators.

If we all work together to support entrepreneurs, then Tanzania will become a hub of innovation and growth, the global leader we know it can be.

Let the Lake Zone regions not forget that they are a community with a common stake, and therefore they should move towards closer economic integration with other regions of the country. They need to accelerate innovation-driven growth, enhance connectivity, and realize inclusive and sustainable development.

The secret of sustainable development is staying true to openness and cooperation and delivering a brighter future for all of us, both here in the country and across the world.

125 thoughts on “Watching Lake Zone regions become focus of economic growth”

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