Why should Tanzania engulf its natural wealth? a history worth attention and lessons learnt from economic hurdles
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Date
2019-06
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Publisher
Journal of Policy and Leadership
Abstract
This is a review paper on recent progress in Tanzania‟s natural resources management hurdles towards
their full utilization for economic development. The paper summarizes how borrowed legal framework
has led astray economic flourishment in the natural resource sector in Tanzania. It shows tactful
international web-pin Tanzania had entered into and from which the rescue would have been impossible
if the Tanzania‟s President, Hon. John Joseph Pombe Magufuli (JPM) wouldn‟t have acted to end the
overdue misery of the nation. Feeble legal framework in natural resources and investment laws thereon
have fore-fronted in this paper as the underlying cause for failures to manage Tanzania‟s natural
resources. In particular, Foreign Direct Investments (FDIs) is pointed to be one of the drivers through
which Tanzania was trapped and exploited-a loop created by foreign adopted legal framework. The
paper reckons on Tanzania‟s inability to out-way the tactics within which its natural resource and
investment laws had tumbled. It commends enactment of new natural resource laws and explains hopes
availed by the new laws.
Description
Research article
Keywords
Natural wealth, neo-colonialism, FDIs reroute, natural wealth exploitation, new natural resource laws