Tanzanian Prime Minister Kassim Majaliwa, during the China Tanzania Investment Forum, enthusiastically invited Chinese investors to contribute to Tanzania’s burgeoning industrialisation aspirations. The event, hosted in Dar es Salaam, saw an assembly of over 100 economic and trade representatives led by the China Council for the Promotion of International Trade (CCPIT) Zhejiang Provincial Committee and the Jinhua Municipal People’s Government.
Majaliwa assured the Chinese investors that “Tanzania is ready to do business with you; our doors are wide open.” He cited several factors that make Tanzania an attractive investment destination, including a favorable business environment, politically stable economic policies, macroeconomic stability, abundant natural resources, a relatively educated workforce, and a strategically advantageous geographic location.
Key figures in the Tanzanian government echoed this sentiment. Kitila Mkumbo, minister of state in the President’s Office responsible for planning and investment, encouraged local investors to collaborate with their Chinese counterparts to bolster Tanzania’s industrial base. Mkumbo emphasized that Tanzania’s ambitious industrialization agenda could be significantly advanced by attracting large-scale investors from around the world, with a particular focus on China.
Chinese Ambassador to Tanzania, Chen Mingjian, praised Tanzania’s rapid economic growth and its commitment to attracting investment and foreign capital. He stated that Chinese companies view Tanzania as an ideal platform for mutual development and growth. Many Chinese enterprises have already established Tanzania as a critical production hub, exporting their products to various African nations and generating more than 150,000 jobs within the country.
The Chinese delegation arrived with a diverse range of investment interests, spanning pharmaceuticals, food production, agricultural machinery, agricultural products, logistics, building materials, aluminum and copper raw materials, hardware tools, mining machinery, machinery products, and industrial and domestic boilers.
Tanzania’s open arms and proactive approach towards fostering investment partnerships, particularly with China, signal its determination to harness foreign capital and expertise in its quest for industrialization and economic prosperity. The fruitful collaboration between these nations promises to be a pivotal driver of Tanzania’s economic future.
