Big oil says it loves Tanzania’s “impressive pace” of economic growth so it’s loosening up the purse strings. PHOTO | AFP
The Citizen Correspondent
Dar es Salaam. British companies are considering trade partnerships with Tanzanian firms following the opportunities that have opened up in the oil and gas industry.
This is partly due to the impressive pace of development within the country, according to Mr Julien Masse, an international business team leader for Aberdeen & Grampian Chamber of Commerce (AGCC).
“We are inspired and upbeat about the future of oil and gas production in Tanzania and the investment opportunities the sector would bring to British companies,” he said here yesterday on a visit to explore the growing investment opportunities for British businesses.
Mr Masse stated that the pace of development in Tanzania was impressive and British companies were keen on opportunities to partner with local companies. A trade mission to Uganda and Tanzania would target business development opportunities for small and medium enterprises (SMEs) in the oil and gas sectors.
The aim of the mission was to equip delegates from SMEs involved in oil and gas with all the relevant information and contacts to support their future entry into the Tanzanian and Ugandan markets, he said.
The London Chamber of Commerce and Industry (LCCI) and AGCC were accompanied by 25 companies from a range of sectors, including eight oil and gas firms.
This is the fifth year running that the LCI has visited Tanzania, bringing with it a number of companies from a range of sectors, including property advisory and asset management, product and packaging design as well as power protection and generator solutions.
The LCCI and AGCC mission participants had a range of objectives that included looking for local representatives, qualified distributors or agents and clients. Some researched the market for the first time while others built on existing contacts.
Ms Ruma Deb, an International Business executive at LCCI, noted that Tanzania was important for many of the firms on the mission, with the country’s continued economic growth offering great opportunities for London businesses locally.
The city of Aberdeen, with its oil and gas connections, is recognised as a global hub for energy experts. AGCC’s Africa business centre has developed trading links for over 40 years.
During their visit to Tanzania, they met with the ministry of Energy and Minerals, Tanzania Petroleum Development Corporation (TPDC), Statoil Tanzania, Ophir Energy, Weatherford Tanzania and a number of one-to-one meetings with businesses and consultants to discuss future investment opportunities.
The British High commissioner to Tanzania, Ms Dianna Melrose, said the coming of British companies demonstrated a growing interest in setting and doing business in Tanzania.
http://thecitizen.co.tz/news/4-national-news/29843-british-firms-eye-tanzanias-oil-gas-sectors-say-they-love-its-impressive-growth
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