M a r k e t N e w s

Tanzania: PM to Japanese Firms - Invest in Tanzania, We'll Support You Fully

Posted on : Wednesday, 31st August 2016

 Nairobi — Prime Minister Kassim Majaliwa has urged Japanese companies to invest in Tanzania to strengthen Nipon-Tanzania economic relations.

In separate talks he held with chief executive officers of various Japanese firms here on Sunday on the sidelines of the TICAD IV meeting, Mr Majaliwa assured existing and potential Japanese investors of government co-operation. He advised them to, at least, send teams to scout opportunities and find local business partners.
"The government is determined to foster industrialisation in order to add value to agricultural products and uplift the lives of about 80 per cent of Tanzanians who depend on agriculture,"Mr Majaliwa said.
Mr Majaliwa met the president of the Sumitomo Corporation, Mr Kuniharu Nakahura. Sumitomo is building the Kinyerezi II gas-powered power plant that is expected to produce 240MW upon completion in the next three years. The construction for the project started in March, 2016.
He also met the vice president of Toyota Tshuso, Mr Yasuhiko Yokoi. The latter told Mr Majaliwa how his firm can contribute to Tanzania's socio-economic development. Toyota Tshuso deals with manufacturing electricity plants, agricultural machinery, geothermal plants and vehicles.
"In Kenya, we have been able to make small machineries that manufacture fertilisers in accordance to the type of the soil of a given area. It is scientifically wrong to make one type of fertiliser and distribute it throughout the whole country," Mr Yokoi said.
Mr Majaliwa also met the president of Marubeni Corporation Mr Fumiya Kokubu who informed him that they would like to invest in Tanzania in textile, fertilisers, cement, sugar production and on Liquefied Natural Gas.
The TCAD meeting ended on Sunday here. The meeting brought together political and business leaders from across Africa and Japan to discuss how to help the continent move forward faster economically. Meanwhile, Mr Majaliwa met and held talks with the the United Nations High Commissioner for Refugees Filippo Grandi Yokohama mayor Fumiko Hayashi and Sudan First Vice President Bakri Hassan Saleh.

Source : allafrica.com
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