Chinese contractors undertake works worth 4.3trn/-

Chinese contractors are undertaking works worth $2.69 billion (4.3trn/-) in Tanzania, an indication of the growing presence of Chinese companies in the country.

The outgoing Ambassador of the People’s Republic of China to Tanzania, Mr Liu Xinsheng, said this week that Chinese companies are undertaking about 126 construction projects employing over 20,000 locals, noting that the trade volumes showed how important bilateral relations between the two sides have become.
Chinese contractor supervise a bridge construction
“China and Tanzania are all-weather friends. The brotherly relationship has withstood the changing international diplomatic situations and grown closer than ever,” Mr Xinsheng said at the Chinese New Year of the Dragon celebration on Wednesday.

He added that the trade volume amounted to $1.5 billion from January to September 2011. This was a 10 per cent increase from $1.363 billion in 2010 and $1.106 billion in 2009.

“Up to now, 324 Chinese companies have been registered in Tanzania with $750 million in total registered capital, creating 60, 000 jobs for Tanzanian people,” Mr Xinsheng added.Projects being undertaken by Chinese firms in Tanzania include roads, bridges, water supply, buildings, telecommunication works and other infrastructural projects.

The Chinese New Year of the Dragon celebrations were organised by Standard Chartered Bank Tanzania. The dragon is a manifestation of being energetic, fearless, warm-hearted and charismatic.

“We believe that the trade and economic cooperation between the two countries will continue to expand and deepen in a constructive way as more Chinese companies seek trade support from Standard Chartered Bank (SCB) and the country at large. China-Tanzania trade and economic cooperation has reached record highs,” Mr Xinsheng said.
Source: The Citizen reported by Victor Karega

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