Investors' appetite on industries high

TIC Executive Director Mr Geoffrey Mwambe


OVER 60 per cent of investment flow in the country is going to the industry sector, the Tanzania Investment Centre (TIC) said in Dar es Salaam yesterday.

The TIC Executive Director Mr Geoffrey Mwambe said this while refuting reports published in the Financial Times quoting Mr Aliko Dangote, one of the biggest investors in Tanzania and in 16 other African countries, that the country is scaring away foreign investors through policies that appear designed to seize a majority share of assets.

“We are okay with investors, we are very close to them than any other time,” he said adding that the good relationship with investors is seen in the increased flow investments particularly in the industry sector thus supporting the government’s industrialisation drive.

He said in two years period there has been witnessed growing interest and appetite among investors into the industrial sector led in the list by China with more investments in support of industrialisation drive.

He however said Tanzania like many other developing countries has continued to work on some challenges in order to improve the investment environment.

He said Mr Aliko Dangote is aware of this type of investment environment and there has always efforts to improve them.

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