Johannesburg, South Africa (ADV) – A total of 13 Chinese companies have expressed their interest in investing in Tanzania’s Coast Region by setting up different industries with a capital of USD 167 million (about 384.1bn),
According to Daily News, the Chinese investors held meetings with the regional administration and the Tanzania Investment Centre (TIC) to discuss procedures for investment during their recent visit to the country. They made their intentions of setting up factories at the Kiluwa Free Processing Zone in the Coast Region very clear.
Kiluwa Free Processing Zone Director, Mohamed Kiluwa, said he managed to lure the investors because the TIC put out clear procedures and communicated to stakeholders on how to bring the investors on board.
“I thank the regional administration for according cooperation towards supporting the President on industrialising the country,” said Kiluwa, adding that he has already started with construction of necessary infrastructures for the investment.
Sinoma East Africa Limited, is one of the 13 companies. The company’s Deputy General Manager, Lu Xiaoqiang, said his company plans to set up plastic and car battery industries.
“We have big plans for the future. We want to develop with local people together in terms of skills,” he said.
Coast Regional Commissioner, Eng Evarist Ndikilo, expressed gratitude Kiluwa for bringing in these investors on board.
“Considering the opportunities available in the region, they have decided to come and are ready to invest any time after acquiring lands, they have capital and modern technologies,” he said.
“We have assured them that within a short period of one or two weeks, we will have given them feedback over acquiring land. We wouldn’t afford to let them go, we will make sure that they invest here.”
TIC’s Executive Director, Geoffrey Mwambe, said promoting investment is the TIC’s legal mandate, but they were glad to see individuals like Kiluwa helping them, noting that six of the 13 investors have already brought some of their machineries into the country to demonstrate their determination to establish the factories.
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