DAR ES SALAAM, Oct. 28 (Xinhua) -- Tanzania expects to generate an average of 1.7 million new jobs in 2027 and attract 70 percent of its long-term development investment from the private sector, according to the country's proposed national development plan for the 2027/2028 financial year.
Presenting the proposals to parliament on Wednesday, Kitila Mkumbo, minister of state in the President's Office responsible for Planning and Investment, said the plan seeks to accelerate economic transformation, strengthen competitiveness and improve people's welfare under the country's Development Vision 2050.
The government estimates that implementing the plan will cost 89.3 trillion Tanzanian shillings (about 35.7 billion U.S. dollars), with 20.7 trillion shillings expected from the government budget, 6.3 trillion shillings from commercially operated public corporations and 62.3 trillion shillings from private investment.
Mkumbo said Tanzania's economy grew by 6 percent in the first quarter of 2026 and 6.5 percent in the second quarter, adding that economic growth is projected at 6.3 percent in 2026 and 6.6 percent in 2027, up from 5.9 percent in 2025.
The plan prioritizes industrialization, agricultural productivity, human capital development, environmental conservation, infrastructure expansion and improved governance, he said.
Mkumbo said key interventions include investment in energy, railways, roads, ports, airports, irrigation, digital services and value addition in mineral and agricultural products.
The government also aims to increase electricity generation capacity to 4,804 megawatts (MW) by June 2028, from 4,606.14 MW in September 2026, while expanding health insurance coverage to 32.38 percent of the population in the 2027/2028 financial year, he told the House.
Mkumbo said five value chains will receive particular attention, including horticulture, aquaculture, mineral exploration and processing, edible oil production, and textiles and garments.
He added that the government will strengthen project monitoring and accountability through a national electronic development project management system to ensure public resources produce measurable results.
The proposed plan forms part of Tanzania's Fourth Five-Year National Development Plan, covering 2026/2027 to 2030/2031, which is the first medium-term framework for implementing Development Vision 2050. ■