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Diaspora members set ball rolling on investments

RECENTLY, while the Prime Minister Kassim Majaliwa was extending olive branch to Rwanda, a neighbor and member of East Africa Community (EAC), he welcomed them to come and invest in Tanzania with further assurance that they would get full cooperation that is key in any business.

Making the assurance during his meeting with the Speaker of the Chamber of Deputies of Rwanda, Donatille Mukabalisa at his office in Dodoma.

The Premier had a message to them just like any other global investor that Tanzania doors are opened given the natural resources (source of raw materials for their would be industries), and vast land as well as market and peace any visitor immediately meets on jetting into the country.

He said: “The government is ready to invite investors from Rwanda to invest in various sectors, including industries, agriculture, mining and tourism. Tanzania and Rwanda have had good relations over the years.”

While further assuring Ms Mukabalisa that the Tanzania government will continue to strengthen the relationship with them.

His additional comment that the government is implementing a modern construction project of the Standard Gauge Railway (SGR), and expected to assist in freight transport up to Rwanda.

Shows that despite the country being landlocked, its import through Tanzania have them in focus to improve business with them. In response, Ms Mukabalisa noted that: “Such cooperation between our two countries is important to the economy of our nations, because we often use the Dar es Salaam port to transport a large percentage of our cargo,” she remarked.

It is good that she emphasized that citizens of both countries should also have partnerships in various fields, such as business, as she welcomed Tanzanians to invest in Rwanda as well.

Along the same vein, foreign direct investors from diaspora members are also encouraged in this area, because these are also more likely to generate linkages to domestic firms and contribute to the internationalisation of Tanzania.

This has been repeatedly also by the President (John Pombe Magufuli) saying that ‘rudini nyumbani kumenoga’ that loosely translates as come back home it is enticing to reduce the cost of production and importation of the same goods, which can be manufactured here locally.

What is remaining in practice is domestic financial institutions to join the boat in big number and assist in realization of this goal.

Because once they support them wholesome, the trickle down benefits besides their interests being recovered, will help improve the lives of fellow Tanzanians.

The Premier, being patriotic knows the importance of wooing investors into the country, because their presence in Tanzania will contribute and create jobs to the locals in the win-win situation for all parties.

For that matter, the citizens who are the custodians of the country should know equally that such investments would enhance their skills in their economies, facilitate transfer of technologies and knowledge share.

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Author: EDITOR

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