Tanzania: 13 Chinese Companies to Make 384.1bn/ - Investments in Coast Region

A TOTAL of 13 Chinese companies visited the country over the weekend, intending to set up different industries in Coast Region, with collective investment capital of USD 167 million (about 384.1bn/-).

Among other industries, they have expressed interest to establish a train wagons factory, car batteries and packaging industries.

The group met the regional administration and the Tanzania Investment Centre (TIC) over procedures for investment.

The Chinese investors want to set up their factories at the Kiluwa Free Processing Zone in the Coast Region.

Coast Regional Commissioner Eng Evarist Ndikilo thanked Director of the Kiluwa Free Processing Zone, Mr Mohamed Kiluwa, for bringing the Chinese investors.

"Considering the opportunities available in the region, they have decided to come and are ready to invest any time after acquiring land... they have capital and modern technologies," adding: "we have assured them that within a short period of one or two weeks, we will have given them feedback over acquiring land."

Eng Ndikilo vowed that the investors would face no nepotism, "We wouldn't afford to let them go, we will make sure that they invest here."

TIC's Executive Director, Geoffrey Mwambe, commended Mr Kiluwa for his efforts to promote investment opportunities and painting a good image of the country abroad.

"Promoting investment is the TIC's legal mandate, but we are glad to see individuals like Mr Kiluwa helping us," Mr Mwambe said.

He said out of those 13 companies, six of them have already brought some of their machineries into the country in demonstrating their resolve to establish the factories.

"Let's give cooperation to investors who come to support the country's move to industrialisation," he appealed.

Mr Kiluwa explained that he has managed to lure the investors because the TIC has put out clear procedures and communicated to the stakeholders on how to bring the investors. "

I thank the regional administration for according cooperation towards supporting the President on industrialising the country," Mr Kiluwa stated.

He said the Chinese investors will set industries in his Kiluwa Free Processing Z one, noting that he had already constructed necessary infrastructures for investment at the area.

However, he asked the government to speed up procedures for giving land to investors since getting investors abroad involves high competition with other countries.

Mr Lu Xiaoqiang, Deputy General Manager for Sinoma East Africa Limited, one of those 13 companies, said they want to set up plastic and car battery industries.

"We have big plans for the future... we want to develop with local people together in terms of skills," he said.

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