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Envoy lures Chinese investors to tap into Tz opportunities

Envoy lures Chinese investors to tap into Tz opportunities

TANZANIAN Ambassador to China Mbelwa Kairuki has welcomed Chinese investors, to put up ventures in value addition and processing of industrial minerals.

He extended the invitation yesterday when speaking at the Guangdong 21stCentury Maritime Silk Road Expo, held in Guangzhou Province in China.

In his speech, the envoy said Tanzania has been blessed with abundant investment opportunities mostly yet to be tapped.

“We have coal, iron, graphite, limestone, gypsum, and phosphate, among other industrial minerals,” he said

He added, “We basically have everything; all we need is for you to come to Tanzania and invest in value addition and mineral processing, so that we can export value-added mineral products to the international market, particularly to China.”

Tanzanians participating at the expo, according to him, are showing coffee, cashew, sesame, soybean, wine, and Tanzanite.

The envoy further said Tanzania is endowed with many varieties of gemstones such as sapphire, diamond and emerald.

The Expo opened yesterday and will close tomorrow, with the goal of promoting exchanges between nations and areas along the Belt and Road, as well as increasing China's foreign trade.

Despite the Covid-19 pandemic, 64 countries and regions, including the United States, Canada, Cuba, Mexico, Russia, Belgium, Spain, Japan, South Korea, and Thailand, have set up national booths at the exhibitions. When compared to the 2020 session, this is an increase of 13 countries and regions.

In the third National Five-Year Development Plan (2021/22- 2025/26) the government aims to boost natural resource-based industrialization by promoting mineral value addition and beneficiation, identifying, promoting, and facilitating rare mineral extraction, and strengthening corporation and mineral markets, demonstration centres among other things.

In April, President Samia Suluhu Hassan ordered sweeping reforms in the investment sector, as part of the government's grand plan to restore investors' trust in the country.

She said it was crucial for the country through the Investment Ministry to ensure the country regains the investors' trust by improving the climate that forces some of them to shift their business to other countries.

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