The China-Tanzania Investment Forum concluded on a high note, with Vice President HE. Dr. Philip Mpango delivering a comprehensive closing address. The event showcased a commitment to enhancing trade and investment, with over 250 Tanzanian companies and 60 enterprises from Zhejiang in attendance.
Dr. Mpango also witnessed the signing of Memoranda of Understanding (MoUs) between China and Tanzania, including cooperation agreements aimed at bolstering economic and trade relations between the two countries. One MoU, between the China Council for the Promotion of International Trade (CCPIT) and TIC, aims to promote and facilitate investment between Jinhua City, Zhejiang, and Tanzania.
The second and third MoUs involve Zhejiang Sifang Group Ltd in cooperation focusing on agricultural development through collaboration with the Institute of Rural Development Planning (IRDP) to advance agricultural machinery. Other cooperation agreements include Zhejiang Sifang Group Ltd and Initiator Eastern Group Company Limited establishing a joint brand for the Tanzanian market, both ready for signing.
In his statements representing President Samia Suluhu Hassan, Vice President Dr. Philip Mpango invited various international investors to come and invest in Tanzania. He emphasized the stability, favorable geography, good policies, and enabling environments facilitating operations in the country. The forum provided opportunities for Tanzanian and Chinese businessmen to enhance cooperation and exchange.
Dr. Mpango reiterated President Samia's warning to government officials who appear to be slow in completing investor processes. He stated, "The leadership of the country is ready to receive and listen to any investor facing challenges within the government." Dr. Mpango urged Chinese investors to transition to clean energy cooking technology to combat environmental degradation and move away from charcoal and firewood use.
He also highlighted potential areas for investment, such as the exploitation of blue economy resources in the Indian Ocean and the Great Lakes, including fishing and related processing, mineral exploration, coastal and marine tourism, and transportation.
Regarding the forum, Dr. Mpango praised various Chinese companies for participating, stating that it provided an opportunity for Tanzanian and Chinese businessmen to exchange information. He noted an increase in Chinese investors coming to Tanzania, indicating that the country is a safe investment destination.
The Chinese Ambassador to Tanzania, Chen Mingjian, emphasized that the investor forum aimed to boost trade between the two nations. He acknowledged Tanzania's rapid economic growth since President Samia took office in 2021, particularly in sectors such as energy and transportation.
Gilead Teri, the Executive Director for the Tanzania Investment Center (TIC), highlighted the forum's importance in assisting investors. He explained that it provided a platform for Tanzanian and Chinese businesspeople and investors to discuss investment opportunities, exchange information, and develop joint strategies to promote investment and boost the economy. Additionally, it helped Tanzanians enhance skills and techniques, sustain business between small and large companies, and access accurate business information from China.