Agro processing pays, Chinese investors told

14May 2019
The Guardian Reporter
ARUSHA
The Guardian
Agro processing pays, Chinese investors told

THE government has urged Chinese investors to venture into agro-processing factories as the raw materials are plentiful and that 50 percent of the country’s population would be living in urban areas by 2050.

The Minister of State in the Prime Minister’s Office (Investment), Angela Kairuki.

The Minister of State in the Prime Minister’s Office (Investment), Angela Kairuki made the remark when addressing delegates at the Tanzania – China Investment Forum held at the Arusha International Conference Center yesterday.

Kairuki noted that food demand in urban areas will be higher as a majority of the youth will migrate to urban places in search of greener pastures.

She said Tanzania is endowed with fertile land and enough water sources to produce food types that are mostly consumed by Africans such as cereals, cassava, sweet potatoes and a variety fruits.

“You won’t be required to import raw materials for the industries since we can produce enough to feed ourselves and export to neighbouring countries,” said the minister, noting that there are opportunities in meat and fish processing, given the huge demand in Asian countries.

 “Your investments should focus on establishing agro-processing factories. There is a ready-made market across the country. Your products can also be sold within East Africa as Tanzania is a member of the East African Community (EAC) and the Southern African Development Community (SADC) which has a population of 800 million people”.

Minister Kairuki stated that business between Tanzania and China has grown from $ 3.9 billion a few years back to $ 7 billion in 2018. The growing business between the two countries will foster the country’s economic development, she emphasized.

“We have a friendly investment and business environment with a number of investment opportunities in minerals, agriculture, manufacturing, livestock and tourism sectors. You may enter into joint venture projects with Tanzanians in implementing various projects in the oil and gas sector, coal mining and construction of hotels,” said Kairuki.

She said Tanzania anticipates more Chinese investors in various sectors including infrastructure.

The Chinese delegation was led by the chairman of Touchroad International Holding Group, Zhejiang Liehui.

The forum was attended by more than 60 potential investors from China and 90 from the Mainland and Zanzibar.

The Chinese business people are among more than 350 tourists from that country who arrived on Sunday and received at the Kilimanjaro International Airport by Prime Minister Kassim Majaliwa.

The arrival of tourists from China follows an agreement inked last year between the Tanzania Tourist Board (TTB) and Touch Road International Group which organizes the tours through chartered flights.

The agreement between TTB and the Chinese firm was signed during the 2018 China- Tourism Road show.

The road show started in Shanghai, proceeding to Guangzhou, Hong Kong, Chengdu and Beijing, with over 200 participants taking part at the opening ceremony, where the Deputy Permanent Secretary in the Ministry of Natural Resources and Tourism, Dr Aloyce Nzuki attended.

Tanzania so far gets an average of 1.3 million visitors per year.