Over 100 Chinese investors will invest
in the country’s manufacturing sector backed up by China Africa
Development Fund (CADFund).
Deputy Permanent Secretary at Prime
Minister’s Office, Ms Regina Kikuli and Tanzania Investment Centre (TIC)
Executive Director, Ms Juliet Kariuki, said in Dar es Salaam yesterday
that China signed an agreement with Tanzania during last year’s visit of
President Jakaya Kikwete to the Asian nation.
“Industrialisation was one of the issues
agreed upon by President Kikwete and his Chinese counterpart during his
visit last year.
The CADFund is an investment fund of the
Chinese government which focuses on Africa,” said Ms Kikuli who
officiated a China Tanzania Industrial Development and Poverty Reduction
meeting in Dar es Salaam yesterday.
She pointed out that as the country
prepares its next Five Year Development Plan with focus on
industrialisation, China’s support is of paramount importance.
Ms Kikuli noted that growth of the
manufacturing sector is an important milestone towards job creation and
poverty reduction, pointing out that the Asian nation has proved that
industrial and agricultural growth are vital to wean millions of people
from poverty.
“This cooperation will also enable us to
boost our bilateral trade which has grown by 56 per cent in the past
decade,” the Deputy Permanent Secretary at PMO’s said. Earlier, TIC’s
Executive Director, Ms Kairuki pointed out that CADFund will not only
assist with funding of the private investments in industries, but also
help the centre identify genuine Chinese investors.
“This is the first group of Chinese
investors that CADFund is introducing to us so that they can find local
partners and invest in industries,” Ms Kariuki said.
Ms Kairuki urged the private sector and
public institutions such as National Development Corporation (NDC),
Export Processing Zones Authority (EPZA) to exploit the opportunity
provided by the CADFund, which has potential to transform the local
manufacturing and agriculture sectors.
“As government we are providing a
conducive environment by putting in place investment friendly policies
and laws,” Kairuki pointed out.
Speaking during the meeting, Vice-
President of CADFund, Yang Aiwu and Deputy Director of International
Poverty Reduction Centre, Tan Weiping pledged Chinese government’s
commitment to work with local partners in boosting industrial growth to
tame poverty.
“We are more than willing to invest more
in Tanzania because of the sustained economic growth and population
increase,” Mr Aiwu said.
He emphasised that CADFund is entirely
dedicated to help growth of Africa’s industrial sector as a means of
ending poverty especially in rural areas where agriculture is a major
occupation.
On his part, Mr Weiping pointed out that
China has a lot of experience in taming poverty through industrial and
agriculture development.
“China has invested a lot in
manufacturing and agriculture sectors which have assisted to reduce the
number of people living in poverty,” Weiping said as he promised to make
sure that such expertise will be transferred to Tanzania and other
African countries.
The two days meeting which brought
together over 200 people including government officials, Confederation
of Tanzania Industries, Tanzania National Business Council and Tanzania
Private Sector Foundation ends today.
Source: Daily News, reported by Finnigani wa Simbeye, from Dar es Salaam, Tanzania
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