IPP Executive Chairman Dr Reginald Mengi in talks
with the French Ambassador to Tanzania, Marcel Escure' who paid him a
courtesy call at IPP offices in Dar es Salaam yesterday.
This was said by IPP Executive Chairman Dr Reginald Mengi in Dar es Salaam yesterday, who noted that the foundation is in fact there to serve local and foreign private businesspersons alike.
Dr Mengi, who is also the board chairman of the foundation said this during talks with the French Ambassador to Tanzania, Marcel Escure when the latter paid him a courtesy call in Dar es Salaam.
“When foreign companies have issues pertaining to business it is deemed well that they consult us. We are here for them,” said Dr Mengi.
He said some of the challenges facing foreign investors in Tanzania could also be facing their local counterparts.
The popular belief among businesses is that the foundation is for local private businesspersons. The IPP Executive Chairman said that the foundation’s and the government’s major preoccupation at the moment, is to see that the business environment is well moulded for local and foreign investors to work together in a win-win situation.
He said Tanzania is keen to see foreign investors joining their local counterparts for the development of both because experience has shown that there is no way the latter can triumph without the former’s cooperation and vice versa.
He said investment scenarios in the US, Europe and of late China, have shown that those countries have become successful because they managed to attract Foreign Direct Investment to the fold.
“It is unrealistic to think of development if we are not going to attract Foreign Direct Investment,” he said.
For his part the French Ambassador to Tanzania Marcel Escure, said France and French companies have been enjoying an amicable and harmonious investment climate in Tanzania and that it is because of this that the European country has managed to be one of the ten leading investors in Tanzania.
“In 2011 when I came here, there were only 20 French companies with businesses in Tanzania. Today there are even more. This is because the investment climate is conducive and peace prevails here,” he said.
Besides the French government which has a number of projects in Tanzania, he said, French companies have been investing in cement production, logistics and agriculture with cooperation from Tanzanian investors and workers.
Echoing Dr Mengi’s argument on the need to foster a win-win partnership between local and foreign businessmen, Ambassador Escure said “economic diplomacy underlies France’s foreign policy philosophy” and that that it encourages establishment of joint ventures with locals wherever the country’s firms invest.
Dr Mengi had earlier suggested that if foreign companies could encourage more local participation, there would be a feeling or sense of business ownership among Tanzanians which would help the firms to secure a bigger degree of protection.
The IPP chairman suggested that ideally the initiative for such relations must come from the local and foreign investors.
In a comeback, Ambassador Marcel said French companies have been enjoying good partnership from Tanzanians.
He said Tanzania’s new business leadership has been cooperative and open to French investors and that even the Tanzanian government is well represented in France where a number of business initiatives have been easily facilitated.
As for its strategy, the Ambassador said France is not going to concentrate in one area of investment, noting that Tanzania has huge number of potential investment areas including gas, agriculture and industries which French firms can explore for development.
“France is a market economy. So our enterprises will invest depending on the prevailing potential and the business environment. Because of that we are not going to concentrate in one area,” he said when responding to a question posed by the IPP Executive Chairman on France’s investment plans in Tanzania.
SOURCE:
THE GUARDIAN
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