TANZANIA remains a strategic investment destination for hinterland markets in the East Africa Community (EAC) and the Southern Africa Development Community (SADC), where Chinese investors can expect to prosper, the government believes.

Exaud Kigahe, the Industry and Trade deputy minister, made this remark at the China-Tanzania Trade and Investment forum opening session in Dar es Salaam yesterday, involving representatives of 25 Sichuan province companies in China and 50 local businesses and dealers.

He cited strategic areas of agriculture, infrastructure development and renewable energy, affirming that the forum was a significant event in discussing business and trade ties between the two countries.

Prof Kitila Mkumbo, the Planning and Investment state minister in the President's Office as well as Janson Huang, president of Sino-Tan Industrial Park, were also at the forum, where discussion focused on investments in textiles, photovoltaic energy storage, design and decoration.

Other floated areas are clothing, engineering construction and construction materials, mining and environmental protection equipment, automobile and motorcycle accessories, apart from routine consumer goods.

The industrial park executive said that the forum seeks to further foster business connections, contributing to broad economic development and industrialization.

“We hope to see increased investment and collaboration, driving growth and innovation in both countries,” he stated.

The minister cited political stability, an investor-friendly environment, market size, and a reliable workforce as among factors motivating investors to set up shop in Tanzania.

An appropriate legal environment for arbitration, safe transit to several markets, tax rates that are reasonable, vast arable land and economic stability are equally important, he stated.

He stressed that it is feasible and helpful for investors from the Sichuan province in China to set foot and invest in the country in areas such as infrastructure, value addition, agriculture and manufacturing.

“Tanzania is ready to work together with stakeholders to make business more attractive,” he declared, citing a variety of areas that need non-traditional investments, like materials supply in infrastructure development, mining and environmental protection equipment to facilitate sustainable mining practices and supply of environmental protection technologies.

The forum is expected to unlock trade and investment opportunities and foster business to business links with Sichuan enterprises. This initiative shall help to ease mapping out solutions for Sichuan enterprises to invest in Tanzania as part of advancing the continental industrial strategy, the minister added.