TANZANIA is keen to boost trade and investment relations
with China as the nation seeks to transform from agricultural to
semi-industrial economy, the Permanent Secretary in the Ministry of Industry,
Trade and Investment Dr Adelhelm Meru has pledged.
He told journalists in Dar es Salaam over the weekend Dr
Meru said China has been
one of the countries in the frontline to support
Tanzania in implementing its development strategy focused on promoting
industries through investments in industries which have been creating trade and
jobs opportunities.
"Investment statistics show that the Tanzania
Investment Centre (TIC) registered 35 Chinese investment projects worth 2,110
million US dollars from January to May this year, expected to generate 1,733
jobs," he said.
"Since 1990 to May this year, a total of 670
projects were registered at the TIC worth 5,779 million US dollars that created
83,394 jobs. Some of the sectors involved are industry, construction,
agriculture, works, natural resources, services, IT and communication," he
said.
Dr Meru explanations aimed to show how the relationship
between Tanzania and China has immense benefits and more over after the
government announced the five year development plan (2016-20/21) which gives
priority to the industrial sector. He said one of the reasons behind the five
year development plan was to save and extend the life span of raw materials
through value addition.
Similarly, various reports have shown that Tanzania has
been leading others in East Africa in attracting foreign direct investments
this year.
For example, the World Investment Report 2017 released by
the United Nations Conference on Trade and Development (UNCTAD) shows that
Tanzania attracted investments worth 1,364 million US dollars in the year 2016,
followed by Kenya 394 million US dollars and Uganda 541million US dollars.
The Quantum Global reports carrying investment research
in 54 African countries placed Tanzania in the eighth in the same period from
19 in the year 2015, becoming the only country in the region found in the 10
top list.