24 December 2012

Tanzania: Chinese Firm Scouts for Investment Slots

EFFORTS by the government to promote Tanzanian investment attractions continue to bear fruit after a delegation from China, Anhui Foreign Economic Construction Company, visited the country to learn more on the opportunities available.

Talking to journalists on the visit, the Acting Executive Director of Tanzania Investment Centre (TIC), Mr Raymond Mbilinyi, said that the six-strong delegation wants to invest in the country in partnership with the government. "This is another opportunity for our country," Mr Mbilinyi said at the weekend in Dar es Salaam.

He said that the delegation, led by its Chairman of the Board of Directors, Mr Jiang Qingde, has already met President Jakaya Kikwete and discussed with him a wide range of issues in connection with investment initiatives in Tanzania. "Anhui Foreign Economic Construction Company is a firm with wide experience in many areas," he said.

He added that up to now, the company has invested in about 20 countries in Africa and that the delegation's visit in the country is a clear indication that Tanzania has potentials to be tapped by investors. He explained that the Chinese company has wide experience in the mining sector, airport construction and electricity generation.

He noted that already the company has invested in airports in 15 countries in Africa and that they have experience working in Africa. He emphasized that should they come to invest in Tanzania, it is this experience and the wide range of sectors they are dealing with that will benefit Tanzania in terms of increasing the tax base, service improvement and employment.

"We have an employment challenge for our youths. The coming of such investors will largely help solve this problem," he said. He added that TIC will continue promoting the country's investments for both domestic and foreign investors.

Tanzania has a long good relationship with the government of China. Various companies from China which have logged rapid economic growth in recent years, have undertaken various projects in Tanzania especially in construction projects.

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