Tanzania lures Japanese investments in manufacturing, technology, higher-value production

**TOKYO: **Tanzania has called on Japanese companies to increase investment in manufacturing, technology and higher-value production as the country seeks to accelerate the implementation of its National Development Vision 2050 and the Fourth Five-Year National Development Plan.

Minister of State in the President’s Office for Planning and Investment, Professor Kitila Mkumbo, said Tanzania wants to transform its economic relationship with Japan from conventional trade towards investment, industrial production and technology transfer.

“We want to move from trade to investment, from investment to industrialisation, and from exporting raw materials to producing higher-value products,” Professor Mkumbo said during talks with Japan’s Ministry of Economy, Trade and Industry (METI).

He said Tanzania sees significant investment opportunities for Japanese companies in sectors including automobile manufacturing, pharmaceuticals and health technologies, agro-processing, strategic minerals, energy, infrastructure, transport and tourism.

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Tanzania has also called for investment in the processing of graphite, nickel, cobalt and lithium to enable the country to add value to these minerals before they are exported.

Professor Mkumbo said the government is seeking investments that create jobs, develop skills, facilitate technology transfer and integrate Tanzanian companies into regional and global value chains.

He also urged METI to help mobilise Japanese companies and financial institutions to invest in Tanzania, particularly in strategic sectors that can strengthen the country’s industrial and technological capacity.

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