Investors happy with Tanzania’s business environment

Dar es Salaam. Investors are happy with Tanzania’s government for its approach to investment.

They say the Samia Suluhu Hassan administration has created a friendly environment for investment and doing business which attracts them to invest reasonable capital in the country’s economy.

A section of foreign investors interviewed by the journalist at the ongoing 48th Dar es Salaam International Trade Fair (DITF) have said that Tanzania has been a leading country for creating a favorable investment environment in the East African region.

Director of Marketing and Communications GF Trucks & Equipments Ltd, Salman Karmal said that Tanzania has steadily created a good business doing environment and thus attracted them to come and invest the capital.

“Tanzania is currently increasingly guaranteeing the security of investors’ capital and generating opportunities for investment capital growth. This situation has attracted GFA to invest more than $2 million in the vehicle assembling sector,” he said.

He said that after 16 years of investment in the country, the company has succeeded in introducing to the market the 600th truck assembled at the company’s factory located in Kibaha district in Pwani region last year.

Karmal said that the FAW truck was launched by the Minister of Industry and Trade, Dr Ashatu Kijaji.

He said the company cooperates with commercial banks to help provide loans to needy businessmen who lack capital for procuring trucks for construction and mining projects.

Speaking at the launch of the truck, Minister Dr. Kijaji urged foreign investors to capitalize the DITF exhibitions by marketing their products and services at a low cost through TanTrade.

“I commend GFA for being the first company in the country that had won FAW trust and granted permission to assemble vehicles of its brand at its Kibaha based factory,” said Kijaji.

She said that she is aware that the factory is undergoing production expansion with the intention of hiring about 300 new young workers. Currently the factory has employed more than 120 Tanzanian workers.

“Currently in Tanzania, we are proudly progressing with the business by setting up our own trucks assembling facility, which helps investors cut cost in importation,” said Dr Kijaji.

She said the government is working on the access to raw materials and equipment needed by industries so that they can be made available in the country and facilitate the production of various products.