Kijaji urges Malaysian financiers to invest in edible oil production

13May 2022
By Guardian Reporter
Dar es Salaam
The Guardian
Kijaji urges Malaysian financiers to invest in edible oil production

INVESTMENT, Industry and Trade minister Dr Ashatu Kijaji yesterday invited Malaysian investors to invest in Tanzania’s edible oil sub-sector, saying Tanzania wants to end its heavy dependence on edible oil imports.

She told a group of 10 investors at the headquarters of the Tanzania Investment Centre (TIC) here that Tanzania has a huge local market of edible oil but at the moment it hugely depends on imports.

“Malaysia is renowned for its local edible oil production. We want to benefit from your valuable experience. Therefore, I am asking Malaysian investors to invest in edible oil in Tanzania,” the minister told a delegation of prospective investors from Malaysia, Hong Kong, United Arab Emirates, Poland and Seychelles. Eight prospective investors came from Malaysia and were accompanied by Tanzanian Ambassador to Malaysia, Dr Ramadhani K. Dau.

Dr Dau said the embassy was talking with Access Logistics Company to explore ways of investing in Tanzania. “We are in the last stages of our talks,” he said.

Dr Kijaji also asked investors to consider investing in Tanzania’s ports, especially the nascent Bagamoyo port, saying the government would want to see the port developed to lessen the workload on Dar es Salaam. She also asked investors to consider investing in Tanga and Mtwara ports.

Shukri Albraik of Link-Value Lamar Resources Limited from Seychelles said their company wants to invest in oil, gas and minerals.  He also said Tanzania has an elaborate system of dealing with investors, the government has developed an investor-friendly environment and that Dar es Salaam is well placed to serve as gateway for this part of Africa.  “We would want to use Dar es Salaam to reach markets in inland, land-locked eastern and central African countries and the rest of the world,” he said.

Currently the government is focusing on inviting financiers to invest in agriculture, construction, commercial buildings, mining, oil and gas, logistics and transportation.

Mtwara region is in the spotlight in the oil and gas negotiations with world prospective investors.