TANZANIA: PRIVATE SECTOR WELCOMES CHINESE INVESTORS

TPSF Executive Director, Mr. Godfrey Simbeye

THE private sector has welcomed investments from China for the benefit of the two countries.

Talking to journalists at the Second Tanzania-China Business Forum in Dar es Salaam, the Executive Director of Tanzania Private Sector Foundation (TPSF), Mr Godfrey Simbeye, Chinese investors were highly welcome to boost sustainable development in the country.

"We are emphasising on investments that will make Tanzania prosper," he said. The forum was attended by representatives of over 100 Chinese companies and 120 local firms.

The Tanzania Investment Centre (TIC) has so far registered 522 investment projects from China valued at USD 2.4 billion which expects to create 77,335 jobs.

However, Mr Simbeye said considering the power of China's economy, more investments and capital flow from that country should be realised.

"Let us be ambitious and target USD 5 billion in three years from now," he said. He noted that the private sector would like to see investments in industries and not using the opportunity to just sell their products in Tanzania.

He also called upon Chinese to forge partnerships with Tanzanians so that the relations can benefit both countries. "With partnerships, Tanzanians are set to benefit from technology and expertise," he noted. He said TPSF was ready to work and assist whenever the need arose for local and foreign investors.

"We are struggling to make sure that investment climate in Tanzania is improving, people should use available opportunities," he said.

On his part, the Executive Secretary of Tanzania National Business Council (TNBC), Mr Raymond Mbilinyi, said Tanzania is struggling to make sure that the country becomes a preferred investment destination in the region.

"Our business environment has improved tremendously in recent years and we are continuing with more efforts," Mr Mbilinyi said. The forum was opened by the Chinese Vice-President, Mr Li Yuanchao.