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China is Tanzania leading investor: official

DAR ES SALAAM, Tanzania – The People’s Republic of China has become the leading superpower nation to control foreign investments in Tanzania, according to the country’s watchdog institution.

China which has huge investments in the east African country is followed by the United Kingdom and the United States, the east African nation’s investment watchdog said on Monday.

The Executive Director of the Tanzania Investment Center, Geoffrey Mwambe, said factors that made investors to invest in Tanzania include the prevailing peace and political tranquility, economic stability, investment guarantees and rich natural resources such as arable land, natural gas and tourism.

Speaking during a business dialogue in the commercial capital Dar es Salaam, Mwambe assured investors that the government will continue to improve the business and investment environment in the country.

The business dialogue is geared towards analyzing challenges that investors face and the steps the government could take to improve the business and investment climate.

The Minister of State in the Prime Minister’s Office responsible for investment, Angellah Kairuki, said the government is implementing policy reforms so as to strike an appropriate balance between the rights and obligation of investors and the need to protect foreign investments.

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Jacob Ujamaa Nyerere

Jacob Ujamaa Nyerere is a public affairs researcher and senior investigative correspondent.

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