China emerges as leading source of foreign investment in Tanzania: officials
Chinese Ambassador to Tanzania Chen Mingjian speaks at the China-Tanzania Investment Forum and China (Jinhua)-Tanzania Trade and Investment Promotion Conference in Dar es Salaam, Tanzania, on March 27, 2024. China has emerged as a leading source of foreign direct investment (FDI) in Tanzania, significantly contributing to the country's development, officials said Wednesday. (Photo by Emmanuel Herman/Xinhua)
DAR ES SALAAM, March 27 (Xinhua) -- China has emerged as a leading source of foreign direct investment (FDI) in Tanzania, significantly contributing to the country's development, officials said Wednesday.
The remarks were made at the closing session of a one-day China-Tanzania Investment Forum and China (Jinhua)-Tanzania Trade and Investment Promotion Conference in the port city of Dar es Salaam.
Tausi Kida, the permanent secretary in the President's Office responsible for Planning and Investment, said that from January 2021 to December 2023, the Tanzania Investment Center registered 256 Chinese projects worth about 2.5 billion U.S. dollars. The top five sectors for these projects were manufacturing, commercial building, agriculture, transportation and services.
Tanzania has made significant strides in improving the investment climate culminating in tangible achievements, including the attraction of more than 11 billion U.S. dollars in projects led by Chinese investments, creating more than 114,726 jobs, said Angelina Ngalula, chairperson of the Tanzania Private Sector Foundation.
Chinese Ambassador to Tanzania Chen Mingjian commended the Tanzanian government's determination and proactive measures in attracting investment and promoting economic development. "We are confident in Tanzania's future development prospects."
Zhu Chonglie, secretary of the Communist Party of China Jinhua Municipal Committee, emphasized the traditionally friendly relations between China and Tanzania. He said that the forum aimed to contribute to building a closer high-level China-Africa community with a shared future.
In closing the forum, Tanzanian Vice President Philip Mpango highlighted China's long-standing role as a leading strategic investor and major trading partner of Tanzania. He noted that the growing FDI and trade indicate that Tanzania is a rewarding investment destination for Chinese investors.
During the forum, four memoranda of understanding were signed between Chinese and Tanzanian enterprises, as well as between Chinese and Tanzanian public institutions.
People attend the China-Tanzania Investment Forum and China (Jinhua)-Tanzania Trade and Investment Promotion Conference in Dar es Salaam, Tanzania, on March 27, 2024. China has emerged as a leading source of foreign direct investment (FDI) in Tanzania, significantly contributing to the country's development, officials said Wednesday. (Photo by Emmanuel Herman/Xinhua)
People attend the China-Tanzania Investment Forum and China (Jinhua)-Tanzania Trade and Investment Promotion Conference in Dar es Salaam, Tanzania, on March 27, 2024. China has emerged as a leading source of foreign direct investment (FDI) in Tanzania, significantly contributing to the country's development, officials said Wednesday. (Photo by Emmanuel Herman/Xinhua)
Tanzanian Vice President Philip Mpango speaks at the China-Tanzania Investment Forum and China (Jinhua)-Tanzania Trade and Investment Promotion Conference in Dar es Salaam, Tanzania, on March 27, 2024. China has emerged as a leading source of foreign direct investment (FDI) in Tanzania, significantly contributing to the country's development, officials said Wednesday. (Photo by Emmanuel Herman/Xinhua)
Related articles
Britain's new bonkers EV: Callum Skye is an £80k electric buggy built in Warwickshire
Britain has a new sports car. But it's not like anything else you've seen on the road before.Callum,2024-05-21CVS Health chops 2024 forecast as cost struggles with Medicare Advantage persist
CVS Health missed first-quarter expectations and chopped its 2024 outlook more than a dollar below W2024-05-21Small ranching community tears itself apart as newly
A small ranching community in Colorado has torn itself apart as newly-released wolves have butchered2024-05-21'Cursed' steamship that vanished in 1909 with 14 men aboard is finally discovered 115 years later
A 'cursed' wooden steamship that vanished in Lake Superior in 1909 with 14 crew members on board has2024-05-21Siblings trying to make US water polo teams for Paris Olympics
WALNUT, Calif. (AP) — Chase Dodd started swimming when he was just a kid. Once he began playing wate2024-05-21Deion Sanders, son respond to social media criticisms over how coach handled transfers at Colorado
BOULDER, Colo. (AP) — Colorado coach Deion Sanders and his quarterback son, Shedeur, have taken to s2024-05-21
atest comment