TIC: Toyota plans to invest in Dar

TANZANIA Investment Centre (TIC) is discussing with Japan’s Toyota Motor Corporation (TMC) about possibilities of opening an assembling plant in the country.

TIC Senior Investment Officer, Ms Latiffa Kigoda, told the ‘Daily News’ yesterday that the talks were at an advanced stage though the details of the investment will come after the July meeting.

“Toyota has shown interest to invest in the country,” Ms Kigoda said, “We will host a delegation of five people from Japan again in the first week of July, for further discussion on opening a car assembling in the country.”

The TIC Executive Director, Mr Gilead Teri, will lead the Tanzania team at the July meeting, and depending on the outcome of the discussion, Toyota may be placed in a strategic investor category.

“Our talks centred on seeing Toyota invest in our country,” she said and the meeting was scheduled after Toyota asked for the appointment.

Additionally, she said “TIC Executive Director is keen to see we strike a deal with Toyota…”

The July meeting will shed light on the types of cars to be assembled locally and the move will not only create jobs but cut importing bill costs.

The plant is envisaged to be selling vehicles and spare parts to neighbourhood land link countries—instead of importing directly from Japan.

Toyota has three plants in Africa in South Africa, the largest, Ghana and Zimbabwe.

Meanwhile, Ms Kigoda said TIC will use Dar es Salaam International Trade Fair (DITF) exhibitions to convince foreign traders to invest in Tanzania.

“The plan is to visit their pavilions and convince them to invest in the country instead of being traders,” said Ms Kigoda.

Currently, some 114 companies from 14 foreign countries have confirmed to participate at the coming 47th DITF at the end of the month.

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