Chinese company opts Dar as its major investment destination

THE Shanghai Linghang Group, the main sponsor of 2023 Tantrade exhibitions, plans to make Dar es Salaam its major choice for their investments in East Africa Region.

The company said it was optimistic that through their investments many Small Scale Entrepreneurs (SMEs) will benefit.

The investor has so far injected 120 million US dollars (about 291.1bn/-) to construct a mall at Ubungo where petty traders, medium and big businesses are expected to take advantage of it by meeting wholesalers and manufacturers directly.

In an interview with the `Daily News’ in Dar es Salaam, company’s Sales Manager Tommy Zhong explained that their company has come with a project dubbed ‘East Africa Businesses & Logistics Centre (EACLC) and is determine to seriously invest in Tanzania and encourage big investors from China, India, Malaysia, Dubai and other countries to inject their money in key economic areas so that the win—win situation is realised.

“We are confident with Tanzanians. They are kind and welcoming, reliable and intelligent people to work with,” Mr Zhong opined.

Part of their plans is to help businesspersons and Tanzanians of all levels to have a reliable shopping centre for displaying and selling plus accessing and buying all sorts of goods at a reliable centre.

“EACLC will become a new industrial city dominated by the modern comprehensive trade and logistics industry, integrating wholesale, retail, logistics, warehousing, exhibition, culture, cross-border e-commerce, tourism and trade and other functions,” reads part of the EACLC brochure.

Also the mall is expected to attract traders from different countries in East Africa including Kenya, Uganda, Congo, South Sudan Malawi and Zambia and other neighbouring countries.

About 1578 local companies and 179 foreign companies from 19 foreign countries participated in the 47th Dar es Salaam International Trade Fair (DITF).

Some of the countries which participated in this year’s DITF were China, India, Turkey, Kenya, Rwanda, Singapore, Indonesia, United Arab Emirates (UEA), Burundi and Iran.

Others were Syria, Pakistan, Algeria, Ghana, Malaysia, Uganda, and Japan.