Tanzania seeks Japan’s long-term investment to create jobs, develop skills, expand technology transfer

TOKYO: Tanzania is ready to attract long-term investment from Japan to create jobs, develop skills, expand technology transfer and production, and improve the competitiveness of Tanzanian products in both domestic and international markets.

Speaking at the Tanzania Investment and Business Forum held in Tokyo, Japan, Minister of State in the President’s Office for Planning and Investment, Professor Kitila Mkumbo, said Tanzania intends to leverage its strategic position as a hub for production, distribution and trade serving markets across Africa.

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Professor Mkumbo said the investment opportunities are further strengthened by Tanzania’s membership in the East African Community (EAC) and the Southern African Development Community (SADC), giving investors access to broader regional markets.

He said the government aims to at least double Japanese investment in Tanzania, increasing the number of registered Japanese projects from 24, with a combined capital investment of approximately 42.7m US dollars to at least 48 projects.