Tanzanian trade authorities have hosted a trade and economic delegation from Nanshan District of Shenzhen, south China’s Guangdong Province, hoping Chinese investors to make use of the business opportunities in the East African nation as the country moves toward industrialization.
Tanzanian trade authorities on Tuesday hosted a trade and economic delegation from Nanshan District of Shenzhen, south China’s Guangdong Province, hoping Chinese investors to make use of the business opportunities in the East African nation as the country moves toward industrialization.
While addressing a one-day China-Tanzania Economic and Trade Conference that discussed bilateral business opportunities held at the Julius Nyerere International Convention Center in Dar es Salaam, the economic hub of Tanzania, John Mnali, the director of investment promotion with the Tanzania Investment Center, said the Chinese companies were welcome to do business in oil and gas, mining, tourism, agriculture, livestock, fisheries, and information and communication technologies.
This photo, taken on April 25, 2023, shows a one-day China-Tanzania Economic and Trade Conference at the Julius Nyerere International Convention Center in Dar es Salaam, Tanzania.(Photo by Herman Emmanuel/Xinhua)
Aristedes Mbwasi, the director of Investment in the Ministry of Investment, Industries and Trade, stressed that the Chinese expertise and technical know-how will help Tanzania move to another level of economic development.
Fortunatus Mhambe, the director of export promotion with the Tanzania Trade Development Authority, said he was optimistic that the conference stood to solidify economic cooperation between China and Tanzania.
Mhambe invited the Chinese companies to participate in the 47th Dar es Salaam International Trade Fair slated for July 2023, saying the fair is the largest trade promotion platform in East and Central Africa.
Chu Kun, the economic and commercial counselor at the Chinese Embassy in Tanzania, said China’s current investment in Tanzania covers manufacturing, construction, telecommunications, agriculture, mining, transportation, services, and tourism. “Especially in the cement and ceramic factories invested by Chinese enterprises in Tanzania, they have filled the market gap, with high-quality products at affordable prices, resulting in good market feedback,” said Chu.
He said Chinese enterprises have also extensively participated in the construction of infrastructure projects in Tanzania, including highways, railways, ports, and power.
Nanshan has become an economic zone, a technology stronghold, and an innovation hub in Shenzhen, China’s reform pioneer, with an economic volume of about 117.3 billion U.S. dollars and a total number of market entities exceeding 400,000, according to Huang Xiangyue, mayor of Nanshan District People’s Government.