Tanzania’s agriculture, tourism, and industrial sectors have drawn interest from several Japanese companies.
- Japanese companies showing interest in Tanzania’s agriculture, tourism, and industrial sectors.
- 20 investment companies from Japan touring Tanzania for potential collaborations.
- Total Japanese investment in Tanzania is $11.4 million across 24 projects in the past 12 years.
Twenty investment companies are currently touring the East African nation in hopes of tapping into the country’s aforementioned sectors, and as a result, bolster the bilateral ties between both countries.
Reports indicate that so far, the Japanese firms have met with over 50 Tanzanian businesses to collaborate on joint ventures and share technological ideas.
Currently, the total amount of Japanese investment in Tanzania is $11.4 million across 24 projects registered under the Tanzania Investment Center, as reported by The Citizen.
The total amount spans the last dozen years and has been responsible for the generation of over 1000 employment opportunities.
Tanzania’s Deputy Minister for Industry and Trade, Mr. Exaud Kigahe, at the opening of the Tanzania-Japan Investment and Business Forum lauded Japan’s mutually beneficial partnership with the the East African country.
“Tanzania and Japan share a long-standing relationship in trade, particularly in development projects in the industrial and road sectors,” he said.
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“We import a significant number of vehicles from Japan, and now we would like some of their vehicles’ spare parts to be produced here in Tanzania.
Additionally, we want to export processed products, not raw materials, therefore this forum is coming timely,” he added.
The Tanzanian minister underscored job creation as a key reason why Tanzania is looking to produce products for exports.
He also noted that the adoption of modern technology and increased exports would help the country with generating foreign exchange.
In response, the Japanese Minister for Foreign Affairs, Mr. Hisayuki Fujji, relayed that Tanzania is a valued partner of the Asian island nation.
“The relationship between our two countries has grown even closer, which is a source of pride. I would like to take this opportunity to thank the governments of both countries, alongside this investors’s meeting which opens up new opportunities,” he said.
Source: The Citizen
