Tanzania vows to emulate Vietnamese economic transformation

Tanzania has said that it's committed to emulate Vietnamese economic transformation to beome a middle country. The remarks  was made by the President of United Republic of Tanzania, Dr. John Magufuli, during a joint news conference with the visiting Vietnamese President Truong Tan Sang at the State House in Dar es Salaam. Mr Sang arrived in Tanzania on Tuesday evening 8th March for a three-day state visit.

Earlier, the two leaders witnessed the signing of an agreement aimed at shelving double taxation for trade and investments for businesspersons and investors from the two countries. “Vietnam has made impressive strides in many areas of the economy, which we can emulate to build our economy.

They are doing very well in the agricultural sector, particularly in cashewnuts, in which the country is among the world’s leading producers. “Tanzania should learn how that country managed to prosper in cashewnuts given the fact that they acquired the crop’s seedlings in this country way back in 1976,” Dr Magufuli explained.

President Magufuli was equally impressed that Vietnam had managed to transform itself from a poor to middle income country where per capital income is now at about 2,000 US dollars from just 100 US dollars in the 1970s.

On the other hand, he noted with concerns that trade volume between Dar es Salaam and Hanoi is less that 300 million US dollars per annum, exuding confidence that the rate will reach US one billion dollars in the next one year.

For his part, President Sang said he was honoured to be the first Head of State out of Africa to visit Tanzania since Dr Magufuli came into office in November, last year.