UNIDO ITPO Tokyo hosted the online Tanzania Investment Seminar on May 18, 2023, jointly with the Japan International Cooperation Agency (JICA) and the Embassy of Tanzania in Japan. Panelists introduced the investment situation and promising investment areas in Tanzania to the 197 participants.
H.E. Mr. Baraka Luvanda, Ambassador of the United Republic of Tanzania, gave his remarks, emphasizing the government’s current efforts to attract foreign investment in Tanzania. H.E. Mr. Yasushi Misawa, Ambassador of Japan to Tanzania, also made his remarks, stating that “Tanzania is comfortable to live in and has a great potential for business. We hope to foster a relationship of mutual trust between Japanese companies and the Tanzanian government, which will lead to increased trade and investment between the two countries.”
The first speaker on Tanzania’s investment policy was Mr. Fadhili Chilumba, acting director, President’s Office – Investment. He introduced the current status of various policy reforms and legal amendments that are being implemented to make it easier for foreign investment, such as the Tanzania Investment Centre (TIC) strengthening its response as a one-stop center, as well as projects such as the development of airports and oil pipelines. Mr. Gilead Teri, Executive Director, TIC, and Mr. Mnali, Director of Investment Promotion, TIC, then mentioned the following promising investment areas: agriculture, fisheries, cotton, textiles, sugar products, leather products, wood products, steel, pharmaceuticals, medical equipment, real estate, infrastructure, tourism and leisure, and stated that “the country is peaceful and politically stable, and the economy is growing along with population increase. We will support investors to start their businesses in a timely manner.”
Next, two private companies operating businesses in Tanzania gave presentations. Mr. Tatsuo Hasegawa, Managing Director, Matoborwa Co., Ltd., which is engaged in food processing business such as dried fruits, explained how his company started its business of producing and selling dried sweet potatoes, mentioning that “Tanzania has an abundance of sweet potatoes and a climate suitable for their cultivation”. He also shared lessons learned about business in Tanzania, such as “Products do not necessarily have to be African-specific” and “Choose a field where there are competitive products in the local market.
Mr. Kenichi Taneya, CEO, SAINT PARTS Co., Ltd., which established a subsidiary in Tanzania to engage in the auto parts business, gave four reasons for choosing Tanzania: increasing population and economic growth, location that enables business expansion with inland countries, culture and security, and trust in Japanese products. He also introduced the operation of stores similar to Japan’s 100-yen stores that sell daily necessities in Tanzania.
Afterwards, Ms. Yuko Tanaka, JICA advisor, introduced the work for industrial development and investment promotion in Tanzania, followed by a question-and-answer session between the panelists and participants on how to differentiate products in the local market and the difficulties of investment.
Date: Thursday, 18 May 2023
Time: 15:00-16:30 (JST) / 9:00-10:30 (Tanzania time)
Venue: Online (Zoom)
Organizers: UNIDO ITPO Tokyo, JICA, Embassy of the Republic of Tanzania
Language: English – Japanese (Simultaneous interpretation)
15:00/9:00 Opening remarks
Ms. Fumio Adachi, Head, UNIDO ITPO Tokyo
15:05/9:05 Guest remarks
H.E. Mr. Baraka Luvanda, Ambassador of the United Republic of Tanzania
H.E. Mr. Yasushi Misawa, Ambassador of Japan to Tanzania
15:15/9:15 Initiative Undertaken by the Government to Attract Foreign Direct Investment
Acting Director, Mr. Fadhili Chilumba, President’s Office – Investment
15:30/9:30 An Overview of Investment Opportunities in Tanzania
Mr. Gilead Teri, Executive Director, Tanzania Investment Centre (TIC)
15:55/9:55 Business Background and Current Business Overview in Tanzania
Mr. Kenichi Taneya, CEO, SAINT PARTS Co., Ltd.
16:05/10:05 Overview of JICA Advisors for Industrial Development and Investment Promotion in Tanzania
Yuko Tanaka, Senior Consultant, Asia Engineering Consultant Co., Ltd.
16:25/10:25 Closing remarks
Mr. ARA Hitoshi, Chief Representative, JICA Tanzania
For more information, please contact:
Ms. Imazu/ Ms. Horiguchi, UNIDO ITPO Tokyo