A delegation of 20 Japanese investment companies is visiting the country to explore opportunities in agriculture, tourism, and industrial production.

Exaud Kigahe, the Industry and Trade deputy minister, made this affirmation when opening the Tanzania-Japan Investment and Business Forum in Dar es Salaam yesterday.

He said that this initiative is vital for industrial investment efforts, and a significant effort to strengthen bilateral ties between the two countries.

The companies have engaged with 50 Tanzanian firms to exchange knowledge, share technology and collaborate on joint business ventures. This will boost the local economy and create employment opportunities, he said.

Japan's total investment in Tanzania has surpassed $11.4m, funding 24 projects registered with the Tanzania Investment Centre (TIC), collectively generating more than 1,000 jobs, he stated.

“Tanzania and Japan share a long-standing relationship, particularly in industrial and road development projects,” he explained, underlining that Japan remains a key development partner.

Tanzania imports products such as vehicles and electronics, while exporting raw materials and processed products like tea and coffee, he said, stressing that Tanzania is keen on increasing local production of vehicle spare parts and moving from exporting raw materials to processed goods.

“This forum is timely, as we aim to create jobs, introduce modern technologies and increase exports, all of which will generate foreign exchange,” he specified.

He pointed at ongoing collaboration between Tanzanian and Japanese businesses, seeking advanced technologies from Japan, asserting that this would greatly benefit Tanzania’s economy.

Hisayuki Fujii, the Japanese deputy minister of Foreign Affairs, expressed his country’s strong partnership with Tanzania, describing Tanzania as among Japan’s key partners in trade and diplomacy. 

Tanja Co. executive Yoshiyuki Mizouchi, a Japanese investor based in Karatu, Manyara Region, shared his company’s experience in Tanzania’s agricultural sector.

The firm opened its doors two years ago, he said, hinting at expectations that more Japanese companies will invest in the country’s agricultural sector.

While acknowledging some challenges, particularly regarding tax issues, he was appreciative of government efforts in facilitating regular meetings with investors.

These engagements have helped resolve some of the challenges, contributing to an improving business environment, he added.