REPRESENTATIVES of 20 companies from the Federal State of Bavaria in Germany jetted into Dar es Salaam early this week, to scout for investment opportunities, the Tanzania Investment Centre( TIC ) has said.
TIC Public Relations Manager, Ms Pendo
Gondwe, told the ‘Daily News’ that the investors expressed interest in
investing in priority sectors that include energy, manufacturing,
agriculture, oil and gas, mining, education and construction.
The visit comes less than two weeks
since TIC registered a mega fertiliser project to be implemented jointly
with investors from Germany and Denmark. Some two weeks ago, German
investors, under a company called Ferrostal Industries Project GmbH,
registered a project at TIC worth $1.9 billion (over 4trillion).
The project involving construction of a
fertiliser plant at Kilwa Masoko in Lindi Region, would be implemented
jointly with Danish shareholders Holdor Topsoe A/S.
The project has been registered under
the name of Tanzania Mbolea and Petrochemicals Company Limited (TAMCO)
in which Tanzania Petroleum Development Corporation (TPDC) also has some
shares.
Speaking after a meeting with
representatives of the companies in Dar es Salaam, TICE Executive
Director Geoffrey Mwambes said: “We are gratefully honoured to host the
German delegation from Bavaria; the German companies have shown highest
level of commitment to invest in Tanzania and this highlights the
highest level of confidence in our government’s policies.”
Mr Mwambes said that the delegation was
just one step towards engaging German companies in realising Tanzania’s
industrialisation agenda. “Germany is our ‘natural partner’ in fostering
and developing ever closer business relations with the country, and we
would like to continue to cooperate with its private sector
organisations,”
Mr Mwambe stressed, adding: “It is our
firm intention to further deepen the close relationship between the
German companies and Tanzania’s private sector for better economic
growth and sustainable development.”
Mr Mwambe said Tanzania needed more
investors, adding that the government would continue to provide support
to investors, as well as creating a more attractive investment
environment.
“Governments across the world are now
doing whatever they can to attract investments. If you don’t give a
proper reception and assistance to foreigners wanting to invest in your
country, they will certainly seek investment openings in other
countries,” Mr Mwambe said.
The head of the German delegation, Mr
Ulrich Konstantin Rieger, touched on the close and long time ties
between the two countries, which he said the visit would be instrumental
in consolidating.
He said German investors were
particularly interested in long-term investments, on account of which
they enjoyed support from Dutch banks. Business relations form a central
part of relations between Tanzania and Germany.
TIC has so far registered 157 projects
from Germany worth $ 324million, creating 14,324 jobs for locals.
Tanzania has recorded remarkable economic development in recent years,
with an average GDP growth of around 7 per cent, a trend that boosts
investor confidence.
The fifth phase government under President John Magufuli has thrown its weight behind an industrialisation drive.
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