TOKYO: TANZANIA has called on Japan to strengthen economic and investment cooperation, stressing the need to transform their long-standing diplomatic and development relations into concrete projects in production, manufacturing and trade. Minister of State in the President’s Office for Planning and Investment, Professor Kitila Mkumbo, said Tanzania wants Japanese companies to invest, manufacture and add … The post Call for Tanzania, Japan to transform their strong diplomatic ties into concrete p
**TOKYO: **TANZANIA has called on Japan to strengthen economic and investment cooperation, stressing the need to transform their long-standing diplomatic and development relations into concrete projects in production, manufacturing and trade.
Minister of State in the President’s Office for Planning and Investment, Professor Kitila Mkumbo, said Tanzania wants Japanese companies to invest, manufacture and add value to products locally rather than viewing the country solely as a market for Japanese goods.
He said Tanzania, through its National Development Vision 2050, aims to build an industrialised, inclusive and globally competitive economy. He identified manufacturing, agriculture and agro-processing, energy, mining, information and communication technology (ICT), infrastructure, tourism and the Blue Economy as among the sectors offering investment opportunities for Japanese companies.
Professor Mkumbo urged the Japan–AU Interparliamentary Friendship League to use its influence to encourage Japanese institutions and the private sector to increase investment in Tanzania, expand access to affordable financing for strategic projects, and strengthen the transfer of technology and skills.
“We need to move from friendship to investment, from development cooperation to the joint creation of economic opportunities, and from shared visions to concrete projects and shared prosperity,” he said.
Professor Mkumbo said Tanzania could serve as an important bridge connecting Japan, the Indian Ocean region and Africa, citing the country’s strategic geographical location, ports, transport infrastructure and access to the wider African market.
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