EU team fronts plans for forum to attract investors

04Oct 2022
The Guardian
EU team fronts plans for forum to attract investors

THE European Union (EU) is planning to organise a business forum to attract investors and increase foreign investments in Tanzania.

Cedric Merel, the head of cooperation at the EU Delegation.

Cedric Merel, the head of cooperation at the EU Delegation in the country, said this during the launch of a project for strengthening plant health services for enhancing food security, which took place here lately.

The project has t €10m in beneficiary support from the EU, in part targeting improvement of beekeeping value chains in tandem with selected private agri-business, market and extension concerns.

The projected forum is expected to attract high profile investors from various EU countries, with a focus on helping Tanzania to accelerate development in key economic sectors.

It will cement long standing bilateral working relationships to put in capital and skills into agriculture, energy, logistics and management, as well as the blue economy, he stated.

“The core vision of the forum is to create a vital platform for key investors to take greater awareness of investment opportunities that Tanzania offers, improving the chance of committing capital or starting projects,'' he said.

The delegation expects to support selected projects in various sectors, including the euro100m Agri-connect project.

It supports value chains and private sector development in the agricultural sector, while a euro 10m programme on beekeeping will support value chains and their exports.

It also involves a regional programme, MarkUP agri-business development tied with marketing and export of Tanzanian agricultural products, he stated.

The listed EU programmes cover a wide extension field, with Tabora, Kigoma, Katavi, Singida, Shinyanga, Arusha and Dodoma regions cited first, along with the southern highland regions of Njombe, Iringa and Mbeya.

The European Union (EU) has been conducting a joint development approach in a number of areas for the past decades, since the Lome Convention in 1975 and the Cotonou Agreement in 2000.

“This positive bilateral cooperation is based on contractual understandings, some based on international conventions which Tanzania and the European Union have ratified,” the diplomat noted.

The EU Delegation dates back to 1991, illustrating harmonious strategies among EU states and convergence with Tanzanian government policies, he added.