TANZANIA Investment Centre (TIC) has called for more investments from Chinese investors saying they are assured of government support to help them prosper.
The TIC Executive Director, Geoffrey Mwambe said the investment climate had significantly improved thanks to scores of measures taken by the government to improve business environment.
“I would like to welcome Chinese investors to come and invest in Tanzania and we will facilitate them in all ways,” said Mr Mwambe as quoted by Xinhua.
TIC is a government’s primary agency for coordinating, promoting and facilitating investment in Tanzania and to advise the government on all investment related matters. Since the government is focused on industrialisation, Mwambe encouraged Chinese companies to come and invest in Tanzania.
“Some of them have shown examples and we welcome other Chinese companies to do the same,” he says in an exclusive interview with Xinhua. Mwambe says trade between Tanzania and China continues to grow healthily, explaining that China remains Tanzania’s largest trading partner, with bilateral trade amounting to 3.88 billion U.S. dollars in 2016.
China is also Tanzania’s second-largest source of Foreign Direct Investment (FDI) and about 724 Chinese companies are registered with the TIC while more and more Tanzanians are entering into partnership in trade and investment with their Chinese counterparts, he said.
“We once again thank China for selecting Tanzania to be among the four pilot countries for China-Africa capacity cooperation,” Mwambe told Xinhua.
He said the partnership between the two countries can be remarkable through projects implemented through Chinese companies’ support or support of the government of China.
He cites projects such as the 1,860-kilometre Tanzania-Zambia railway line commonly known as TAZARA, the Julius Nyerere Bridge which has created over hundreds of permanent jobs and the 60,000-seater national stadium, the most modern sports facility of its kind in East Africa.
Mwambe says there is no doubt that Tanzania-China relations have continued to grow over the years.
“Since independence, China has continued to share its expertise with Tanzania in various fields including the medical field, agriculture and construction,” says the TIC CEO, adding: “Tanzania has continued to maintain a close relationship with China and both have continued to joining efforts to strengthen and expand the friendly relations between the two countries.”