situation report

Jul 16, 2019 | 17:23 GMT

1 min read

Tanzania: Ambassador to China Suggests $10 Billion Port Project Might Continue

What Happened: Tanzania's ambassador to China suggested during a visit to Hong Kong that the $10 billion Bagamoyo port project, which according to earlier reports had been canceled, might continue after all, the South China Morning Post reported July 11.

Why It Matters: News of the project's cancellation came amid a broader move toward resource nationalism by the Tanzanian government as it tried to raise revenue as well as increased skepticism of foreign investment projects over financing concerns.

Background: Work on the port, which began in 2018, will likely continue, although it remains possible that both sides will renegotiate crucial aspects of the project.

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