THE Vice-President, Ms Samia Suluhu Hassan, has called on Oman business community to explore trade and investment opportunities in Tanzania, as the country is geared to promote industrialisation through private investments.
She told the visiting Oman businessmen and industrialists that basing on her strategic location, Tanzania offered ample trade and investment opportunities and an access to a market of more than 150 million people in East African Community (EAC) region.
“The government is committed to attracting large-scale investments to boost industrialisation, exports and development,” she said at the opening of Oman-Tanzania Roadshow in Dar es Salaam for the visiting Oman business delegation to explore trade and investments opportunities in Tanzania.The Oman business delegation, comprising businessmen and industrialists, arrived in the country on Tuesday evening for a three-day visit to explore opportunities of trade and industrial cooperation between the two countries.
Ms Samia urged the Omani visitors to take advantage of the country’s drive to boost industrialisation through large-scale investments by investing in a wide range of areas and benefit from well balanced and competitive package for fiscal and non-fiscal incentives for large scale investors.
“Tanzania has a vibrant market based economy in which there is unlimited investment and business opportunities, which you are invited to explore,” she told the Omani business delegation. Tanzania is aiming at transforming from an agricultural economy to a semi-industrialised nation by 2025.
She said investing in Tanzania also guaranteed access to a market of more than 300 million people in Eastern and Southern Africa in which Tanzania enjoys preferential trading arrangements by virtue of being a member of SADC and East African Community (EAC).
The VP added that Tanzania enjoyed a competitive edge above other countries in the region due to its geographical positioning as it is also a gateway to six landlocked countries in Eastern and Central Africa, providing natural access to DR Congo, Rwanda, Burundi, Zambia, Malawi and Uganda. “We in Tanzania believe FDI have important role to play as we embark on major industrialisation drive to boost growth and development,” she said.
Earlier, the Minister for Industry, Trade and Investment, Mr Charles Mwijage, said the visit by the Oman business delegation was an opportunity for the business community in Oman and Tanzania to strengthen bilateral relations through trade and investments. He said as Tanzania implements its ambitious industrialisation agenda, it was important that trade and investments were expanded.
“It is important that we attract private investments to promote our industrialisation agenda and for investments in industries to prosper we must expand trade and investments,” he said.
Mr Mwaijage added that Tanzania had great potential to become a major exporter of coffee and tea, as well as clothes to the lucrative market of Oman and other Far East countries if the sectors were to be developed through private investments.
Oman Minister of Commerce and Industry, Dr Ali al Sunaidy, said the visit aimed at enhancing relations of economic and investment cooperation between the two countries. He particularly mentioned real-estate investment, foodstuff, transport and logistics services and finding investment partnerships and connecting the ports of Duqm, Salalah and Sohar with Dar es Salaam Port as priority areas.
Oman is aiming at opening new markets in Africa through Tanzania, which overlooks the Indian Ocean as a gateway to several countries on the continent, he said. The move is part of ongoing efforts by the authorities to increase non-oil exports and diversify the economy away from dependence on oil revenue.
The Oman business delegation comprised the Chief Executive Officer of the State General Reserve Fund (SGRF) Abdulsalam al Murshadi, Chairman of Oman Chamber of Commerce and Industry (OCCI), Mr Said al Kiyoumi, officials from the Commerce and Industry and Foreign ministries as well as port officials and businessmen.