Investors from China outline areas of interest
Dar es Salaam. A delegation of investors from China’s Changzhou district is currently exploring investment opportunities in Tanzania, with plans to inject a minimum of $86.8 million across various sectors, including agriculture and health.
The delegation, which comprises various prominent companies from Changzhou, is also interested in investing in several other sectors, including the manufacturing of medical devices, the production of electrical appliances, building materials, grain and oil processing, and agricultural machinery.
The 10-man delegation comes at a time when available data show that China has effectively cemented its position as the number one source of foreign investments in Tanzania, having injected a total of $11 billion in various projects that have created at least 144,726 jobs for Tanzanians.
Briefing journalists yesterday on behalf of the Chinese delegation, an officer from Canopus Energy Solutions, Ms Anna Nyangasi, described Jinake Group as one of the companies aiming to invest in Tanzania.
“These investors have arrived in Tanzania at our invitation, in collaboration with Amec Group. They are currently in negotiations with the government so that they can channel their investments into those sectors,” she stated.
The investment is expected to generate nearly 2,000 permanent and part-time jobs when the planned investments are realised.
Within the agriculture sector, the investors plan to establish power tiller and trailer assembly plants, which will assemble 25,000 power tillers and trailers per year.
They also plan a tractor assembly plant that will produce nearly 2,000 units of 75- to 110-horsepower wheeled tractors and implements every year. For diesel and gasoline generator production, it is planned to produce 300,000 generators and pumps per year, as well as water pump assembly plants.
Grain and oil processing, the integrated edible oil processing plant.
The health and energy sector is poised to establish a syringe factory with plans to produce 50 million disposable syringes annually. Additionally, in the energy sector, investors are exploring the construction of an electrical appliance switch production plant.
Regarding building materials, investors are set to embark on the establishment of a cold storage panel production plant, an anti-theft and anti-fire door production plant, and a factory for steel building materials.
For his part, the acting permanent secretary of the ministry of Industry and Trade, Mr Sempeho Manongi, stated, “We have presented opportunities in the agricultural sector, encompassing the entire value chain for increasing agricultural products and renewable energy.
“We have highlighted opportunities in the production of industrial minerals such as iron, as well as in renewable energy and industrial areas and we give them areas that they can invest in; we welcome them in the country to explore tapped opportunities.”
He said after negotiations with the ministry of Industry, they will go to the Tanzania Investment Centre (TIC) to check more on tax incentives that concern foreign investors, and after that, they will decide when to start investing.
“We are in ongoing discussions to determine the type of investment they prefer. Given our longstanding relationship and joint investments, China’s historical ties with Tanzania span various sectors. We welcome their involvement to bolster our ties and enhance trade volumes,” he stated.
He said areas for solar power production include Iringa, Morogoro, Dodoma and Singida, while those mentioned for wind power are Arusha, Dodoma, and Iringa.
