Tanzania lures more Japanese firms to expand their operations in the country’s rich natural resources
TOKYO: TANZANIA and Japan have reaffirmed their commitment to strengthening economic cooperation and investment, with both countries expressing interest in improving the investment climate and encouraging more Japanese companies to establish and expand their operations in Tanzania.
The commitment was made during a meeting between Tanzania’s Minister of State in the President’s Office for Planning and Investment, Prof. Kitila Mkumbo, and Japan’s Parliamentary Vice-Minister of Economy, Trade and Industry, Takuo Komori, in Tokyo.
The two officials exchanged views on ways to improve the investment environment and deepen economic ties between the two countries, with the aim of increasing trade and investment activities by Japanese companies in Tanzania.
Both sides also expressed their intention to continue collaborating to promote bilateral investment, a move expected to create more opportunities for trade, investment and private-sector partnerships between Tanzania and Japan.
The meeting took place as part of Tanzania’s investment mission to Japan, led by Minister Mkumbo. The mission aims to showcase investment opportunities in Tanzania, attract new investors and strengthen direct business-to-business relations between the private sectors of the two countries.
The mission was organised by the Embassy of the United Republic of Tanzania in Japan in collaboration with the Tanzania Investment and Special Economic Zones Authority (TISEZA), the United Nations Development Programme (UNDP), the Zanzibar Investment Promotion Authority (ZIPA) and the Tanzania Private Sector Foundation (TPSF).
Through the mission, Tanzania seeks to leverage its longstanding relationship with Japan to build broader, trade- and investment-driven economic partnerships and attract Japanese companies to invest in productive projects across the country.
The cooperation forms part of the Tanzanian government’s efforts to advance economic diplomacy, attract quality investment and increase the contribution of the private sector to the country’s economic growth and development.
