Tanzania Daily News (Dar es Salaam)

22 June 2014

Tanzania: All Set for Historic Dar, Beijing Business Forum

THE Vice-President of the People Republic of China, Mr Li Yuanchao, expects to open a historic Tanzania- China business forum in Dar es Salaam on Monday.

The Chinese leader, who was due in the country on Saturday , is on a six -day official visit. Announcing the forum in Dar es Salaam on Friday, the Public Relations Manager of Tanzania Investment Centre (TIC), Ms Pendo Gondwe, said the forum will involve business community and investment stakeholders from both countries.

"The forum seeks to strengthen bilateral relations between our two countries," she said. According to Ms Gondwe, the forum is organised by TIC in collaboration with the China-Africa Business Council (CABC) and the Ministry of Foreign Affairs and International Cooperation.

She said that Tanzania expects to showcase her huge investment opportunities in areas of infrastructure, agriculture, gas and oil exploration, mining and business, among others.

The forum will be attended by representatives of over 100 Chinese and 120 Tanzanian companies. She noted that TIC has so far registered 522 investment projects from China with a value of USD 2.4 billion which expects to create 77,335 employment opportunities for Tanzanians.

Ms Gondwe said that it is expected the forum will help cement business and investment relations which exists between the two countries. On his part, the Acting Managing Director, Stanbic Bank Tanzania, Mr Paul Omara said the bank was pleased to be associated with the business forum.

The bank is the platinum sponsor for the meeting. He said that Stanbic Bank Tanzania which is a member of the Standard Bank Group of South Africa is committed to supporting major conglomerates in projects within the global market and facilitate projects which contribute to economic development in regional trade market.

In 2008, Standard Bank Group partnered with Industrial and Commercial Bank of China (ICBC) in a business deal that saw ICBC acquire 20 per cent stake in Standard Bank Group.

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