Tanzania is working to strengthen its collaboration with China to explore business opportunities, enhance partnerships, and boost trade and investment between the two nations.

At the opening of the China-Tanzania Trade and Investment Forum, Prof. Kitila Mkumbo, Minister of State in the President's Office for Planning and Investment, highlighted the growing economic ties between Tanzania and China.

Held in Dar es Salaam, the event brought together high-ranking officials, business leaders, and industry experts from both countries.

The Minister emphasized the forum's objectives: exploring business opportunities, enhancing partnerships, and accelerating trade and investment between China and Tanzania. He underscored China's importance as a major investment partner for Tanzania.

"Over the past three years, Chinese investments in Tanzania have surged to $2.46 billion across 256 projects, creating over 29,000 jobs," he noted.

Key Chinese investments include manufacturing plants for ceramics, steel roofing sheets, and tiles, as well as industrial parks and shopping malls.

Prof. Mkumbo outlined eight factors making Tanzania an attractive investment destination: a stable economy, a favorable business environment, a strategic geographic location, and substantial market access through regional economic groupings.

The forum also highlighted recent Tanzanian reforms aimed at improving the business environment, including a new Investment Act that simplifies licensing processes and provides international arbitration for dispute resolution.

The Minister reaffirmed the government's commitment to further reforms and infrastructure development to support sustainable investment and economic growth.

The forum, a joint initiative by Tanzanian and Chinese stakeholders, is expected to foster deeper economic cooperation and increased investment flows between the two countries.