All efforts being made to boost Tanzania, China ties, says TIC

16Apr 2018
The Guardian Reporter
The Guardian
All efforts being made to boost Tanzania, China ties, says TIC

THE economic partnership between Tanzania and China is set to grow as 724 Chinese companies have registered with the Tanzania Investment Centre (TIC), it has been disclosed.

“China has selected Tanzania among four pilot countries for China-Africa capacity cooperation, and is also Tanzania's second-largest source of Foreign Direct Investment (FDI)”, said TIC executive director Geoffrey Mwambe.

The China-Africa capacity cooperation seeks to boost industrial partnerships between the two parties in a comprehensive and orderly approach. Other countries under the plan are Ethiopia, Kenya, and the Democratic Republic of Congo (DRC).

According to Mwambe, China remains Tanzania's largest trading partner, with bilateral trade amounting to $3.88 billion in 2016.

The TIC boss said more and more Tanzanians are entering into partnerships in trade and investment with Chinese counterparts.

Chinese investors are invited to invest in manufacturing, agriculture, livestock, fisheries, mining, tourism, economic infrastructure and information, communication and technology, he added.

He further explained that the manufacturing sector provides opportunities in the establishment of Export Processing Zones (EPZs) for the creation of international competitiveness for export-led growth. The EPZs are managed by the Export Processing Zones Authority (EPZA), a government agency.

According to Mwambe, the sector also covers the automotive industry focusing on the establishment of assembly plants and spare parts manufacturing facilities and oil, gas and chemical industries, particularly construction of a liquefied natural gas plant.

"There are also opportunities in pharmaceutical industries targeting the construction, rehabilitation and providing support to strategic pharmaceutical industries”, he said.

Other opportunities in the manufacturing industry are in agro-industries and agro-processing to add value to agricultural, livestock, forestry and fisheries products.

On the livestock sector, Mwambe said there are opportunities to establish factories for processing meat, dairy and leather products such as shoes and bags.

The fisheries sector provides opportunities for the establishment of a fishing port in the Exclusive Economic Zone, fish processing plants and modern fishing boat building yards, dry docking and eco-tourism facilities, and commercial fish cage culture in both marine and freshwater areas, among others.

Opportunities in the tourism industry include construction of tourist hotels, establishment of leisure parks, investing in conference tourism facilities, and provision of air/ground transport, said Mwambe.

TIC is the primary government agency for promoting, facilitating, and coordinating investment in Tanzania.