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)
Supreme Court declines to hear challenge to Maryland ban on rifles known as assault weapons
Xi Story: Environment First for the Yangtze River
NEVs help China to top auto exports
US urged to stop slandering TikTok
Jon Wysocki dead at 53: Staind drummer passes away
Chinese firms to take center stage at MWC 2024
Construction machinery maker to lift production targets; eyes green model
Stronger support for advanced machine tools urged
Farm family’s newest crop shows China’s solar ascendancy
AlipayHK accepted for metro in Guangzhou
Online reading or offline clubs? Young Chinese embrace both in digital era
Profile: Xi Revives Culture, Spearheads Innovation for Modern Civilization