{"id":27640,"date":"2021-04-25T11:22:28","date_gmt":"2021-04-25T11:22:28","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=27640"},"modified":"2021-04-25T11:22:28","modified_gmt":"2021-04-25T11:22:28","slug":"why-over-800-chinese-firms-wish-to-invest-in-tanzania-during-president-samias-administration","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/files\/why-over-800-chinese-firms-wish-to-invest-in-tanzania-during-president-samias-administration","title":{"rendered":"Why Over 800 Chinese firms wish to invest in Tanzania during President Samia’s administration?"},"content":{"rendered":"

Reported by<\/strong>
\nFaridah N Kulumba<\/strong><\/p>\n

Top leaders of the Chinese\u00a0business community in Tanzania, pledged to invest in a number of projects, including manufacturing mobile phone handsets.<\/p>\n

This was revealed by Janson Huang who led the delegation of Chinese Business Chamber of Tanzania to a meeting with the newly sworn in President of Tanzania Samia Suluhu Hassan at the State House in Dodoma.<\/p>\n

A statement from the State House revealed that the Chinese\u00a0 Business Chamber of Tanzania assured President Suluhu that at least 800 Chinese companies were ready to invest in Tanzania under Suluhu’s administration, reported IPP.<\/p>\n

Investment\u00a0 ranks in Tanzania<\/strong><\/p>\n

According to the Tanzania Investment\u00a0Centre, China is the largest investor in Tanzania for years, leading with investments\u00a0worth $5.963 billion between 1990 and 2017.<\/p>\n

The United Kingdom came second with investments valued at $5.54 billion while the United States, Mauritius and India completed\u00a0the top five list\u00a0 \u00a0with investments worth $4.7 billion, $4308 billion and $2.2 billion, respectively.<\/p>\n

Tanzania Investment Centre executive director Geofrey Mwambe while talking to The Citizen, attributed Chinese top position to aggressiveness of Chinese nationals to look for new investment opportunities outside their country.<\/p>\n

Expectations from the new investors<\/strong><\/p>\n

The statement which was signed by Tanzania’s Presidential Communications Director Gerson Msigwa revealed that the investment would help Tanzanians to get China’s expertise by way of giving them opportunities to study in Chinese Universities and colleges, in areas of engineering and tourism through sponsorship by the business people in cooperation with their government.<\/p>\n

“The Chinese business leaders expressed interest in investing in mobile handsets making, pharmaceuticals, vehicle assembling and in starting industrial parks,” said the statement signed by Gerson Msigwa presidential Communications director.<\/p>\n

Why wish to work with the President Samia administration?<\/strong><\/p>\n

President John Pombe Magufuli’s combative approach\u00a0to international business, aggressive domestic\u00a0policies and him being coronavirus sceptical, terrified some foreign\u00a0investors and drew condemnation from Tanzania’s East African partners.<\/p>\n

According to African Business, in 2015 the year President Magufuli
\nentered\u00a0the top office, the Foreign Direct Investment (FDI) fell by 43%, but Tanzania’s GDP continued to grow at an average rate of 6% a year.<\/p>\n

President Hassan, while addressing the Chinese business leaders, assured them that her administration will work with them so they can realise their investment plans.<\/p>\n

She said that she will particularly work on various issues that bottleneck the flow of investments in the country, including work permits, tax delays in payments for the service, red tape as well as ensuring that the country keep taking preventive measures against the Covid-19 pandemic.<\/p>\n

Ms Hassan also promised that her government will improve on the business climate\u00a0 so that those who are planning to\u00a0 invest in her country can do so without being antagonised.<\/p>\n

Stephen Ouma Bwire Editor at the Workers Eye magazine\u00a0 also General secretary Uganda Journalists Union and business journalist told\u00a0 Africa-Report that Tanzania is a fast growing economy with great potential for oil exploration and development.<\/p>\n

He added that Tanzania’s infrastructure needs Chinese modern technology to improve the local sector, construction of roads, factories, upgrading railways and marine division.<\/p>\n

Mr Ouma while explaining why Chinese wish to work with the new Tanzania’s administration than the previous one\u00a0\u00a0he said, “President Hassan is more liberal, than Magufuli,” said Ouma.<\/p>\n","protected":false},"excerpt":{"rendered":"

Reported by Faridah N Kulumba Top leaders of the Chinese\u00a0business community in Tanzania, pledged to invest in a number of projects, including manufacturing mobile phone handsets. This was revealed by Janson Huang who led the delegation of Chinese Business Chamber of Tanzania to a meeting with the newly sworn in President of Tanzania Samia Suluhu […]<\/p>\n","protected":false},"author":84,"featured_media":27641,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6,15,7089,16],"tags":[6991,387,7943],"class_list":["post-27640","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","category-google-plus","category-to-homepage","category-twitter","tag-africa-press-tanzania","tag-china","tag-chinese-business-community-in-tanzania"],"yoast_head":"\nWhy Over 800 Chinese firms wish to invest in Tanzania during President Samia's administration? - Tanzania<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/tanzania\/files\/why-over-800-chinese-firms-wish-to-invest-in-tanzania-during-president-samias-administration\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why Over 800 Chinese firms wish to invest in Tanzania during President Samia's administration?\" \/>\n<meta property=\"og:description\" content=\"Reported by Faridah N Kulumba Top leaders of the Chinese\u00a0business community in Tanzania, pledged to invest in a number of projects, including manufacturing mobile phone handsets. 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