Tanzania hosted a trade and economic delegation from Nanshan District of Shenzhen, south China’s Guangdong Province, to discuss potential business opportunities in the East African nation. The country is moving towards industrialization and hopes that Chinese investors will take advantage of the opportunities presented. The one-day China-Tanzania Economic and Trade Conference held at the Julius Nyerere International Convention Center in Dar es Salaam discussed bilateral business opportunities.
John Mnali, the director of investment promotion with the Tanzania Investment Center, said that Chinese companies were welcome to do business in oil and gas, mining, tourism, agriculture, livestock, fisheries, and information and communication technologies. The director of Investment in the Ministry of Investment, Industries and Trade, Aristedes Mbwasi, stressed that Chinese expertise and technical know-how would help Tanzania move to another level of economic development.
Fortunatus Mhambe, the director of export promotion with the Tanzania Trade Development Authority (TanTrade), said he was optimistic that the conference would solidify economic cooperation between China and Tanzania. He invited Chinese companies to participate in the 47th Dar es Salaam International Trade Fair (DITF) slated for July 2023, saying the DITF was the largest trade promotion platform in East and Central Africa.
Chu Kun, the economic and commercial counselor at the Chinese Embassy in Tanzania, said that China’s current investment in Tanzania covers manufacturing, construction, telecommunications, agriculture, mining, transportation, services, and tourism. “Especially in the cement and ceramic factories invested by Chinese enterprises in Tanzania, they have filled the market gap, with high-quality products at affordable prices, resulting in good market feedback,” said Chu.
Chinese enterprises have extensively participated in the construction of infrastructure projects in Tanzania, including highways, railways, ports, and power. Nanshan has become an economic zone, a technology stronghold, and an innovation hub in Shenzhen, China’s reform pioneer, with an economic volume of about 117.3 billion U.S. dollars and a total number of market entities exceeding 400,000, according to Huang Xiangyue, mayor of Nanshan District People’s Government.
The Chinese delegation’s visit to Tanzania signifies the country’s eagerness to expand its economy, and the delegation expressed a keen interest in the country’s natural resources, tourism, and infrastructure. Tanzania is the largest country in East Africa, with a population of over 58 million people, and it has vast natural resources, including gold, diamonds, and natural gas.
Tanzania’s government has been actively seeking foreign investors to boost the country’s economy, and this conference with the Chinese delegation is part of this effort. Tanzania is also making efforts to create an enabling environment for investors by improving infrastructure, enhancing security, and promoting a favorable business climate.
The visit by the Chinese delegation and the subsequent discussions with Tanzanian authorities highlights the growing economic cooperation between China and African nations. China’s increasing involvement in Africa’s economy has been a subject of global debate, with some analysts accusing China of creating debt traps for African nations. However, Tanzania’s government sees China’s involvement in its economy as an opportunity to attract foreign investment and to foster economic development.
Tanzania is eager to attract foreign investment, and its government is taking steps to create an enabling environment for investors. The visit by the Chinese delegation signifies Tanzania’s willingness to expand its economy and the growing economic cooperation between China and African nations. With vast natural resources and a favorable business climate, Tanzania presents a promising opportunity for foreign investors looking to expand their operations in Africa.
