Bagamoyo port and industrial zone project Implementation Agreement signed in Tanzania
On 10th January, 2014, The Minister of State (Investment and Empowerment) Dr. Mary Nagu and the Chinese Ambassador to Tanzania H.E. Amb Lv Youqing witnessed the Tanzania Bagamoyo port and industrial zone project Implementation Agreement signing ceremony in Dar es Salaam. Dr. Hu Jianhua, Assistant President of CMG cum Managing Director of CMHI, and the Permanent Secretary of Ministry of Finance Dr. Servacius Likwelile of Tanzania representing the respective parties signing the agreement. After that, Dr Hu and his delegation paid a visit to the Prime Minister of Tanzania, Hon. Mizengo Kayanza Peter Pinda, who expressed his hearty congratulations, the company said in its press release.
The Bagamoyo project framework agreement was signed on 24th March 2013, witnessed by the Chinese President Xi Jinping and President of Tanzania Jakaya Kikwete. Since then, a joint task force working group was formed to develop roadmap and work plan to implement the framework agreement. A major project milestone was built in the partnership with plenty of fruitful discussions; mutual agreement was reached on major issues. The signing of the Implementation Agreement marks initial achievement of the partnership between CMHI and Government of Tanzania, which indicates a major progress of the project and has laid a solid foundation for the success of the strategic partnership. The Parties will continue to work closely on discussing the major terms of the relevant agreements, strive for earlier implementation and carry out the relevant construction to bring the project to operation as soon as possible.
"The development of Bagamoyo Seaport and the industrial zone project will not only accommodate future trends in increasing size of container vessels and shipping lines to form alliances, but also greatly enhance the competitive advantages of the Tanzanian port in the future." Dr. Hu emphasized, "It will fundamentally decongest Dar es Salaam port and the city. It eases the contradiction between the old port and urban development and helps to promote Tanzania to become East African regional leading shipping and logistics centre. Tanzania will be equipped to capture the opportunity in the new round of global industrial migration, and the formation of a new growth engine. It will repeat China's success story of reform and opening up over the past 30 years, and promotes both regional and national economic development of Tanzania."
