VOL. NO: 53      DATE:
 

Business News
  Home
  Editorial
  Top Stories
  Health Corner
  Agony Aunt
  Sports

About Us
Subscription
Advertise
Feedback
  Contact Us
 

 

AFRICAN ECHO BUSINESS NEWS
Complied by Cass Gilroy-Business Editor

Tanzanian mining industry set to attract overseas investors

TANZANIA is set to attract over eight new foreign investors this year, especially in the manufacturing and sugar cane plantation sectors. Chinese, American and Japanese investors, according to a senior government official, are keen to invest in the manufacturing of buses, and large-scale sugar cane plantations along the Wami and Rufiji valleys.

The companies are also eyeing the solar power, gemstone industry and tree plantations for paper making, the executive director of the Tanzania Investment Centre, Mr Emmanuel Ole Naiko, said. 

The influx of big FDI, said Naiko, has been stimulated by the numerous presidential trips abroad over the past year, during which he was accompanied by a large entourage of eminent businessmen speaking the language of investment.

Representatives of the American Welch Group and Hope Foundation arrived in the country last month, and a South Korean firm is also expected soon. With their local partners, Antelope Tours and Zizini Company, a Tanzanian firm located in the US, the Welch Group and Hope Foundation will invest in the sugarcane plantations and food production.

Other firms whose officials have also been around include Candy and MIC Industrial Development Company Ltd. of China. The firms intend to team up with Mtibwa Sugar for investments in sugarcane plantations.

 

Please email your comments to
editor@africanecho.co.uk

 
 
Suite C, Queensway House, 275-285 High Street, Stratford, London, E15 2TF, UK
Tel: +44 (0) 208 534 2255 (Editorial), +44 (0) 208 534 2299 (Advertisements)
Fax: +44 (0) 20 8519 5564 Email: info@africanecho.co.uk
Terms & Conditions : Privacy Policy
Powered by:Alt N Solutions