africa FDI Tanzania

Tanzania welcomes Moscow investors

Approximate reading time: 2 minutes

Tanzania has welcomed Russian investors to utilize and benefit from investment opportunities and incentives available in the country.

The Deputy Minister for Foreign Affairs and East African Cooperation, Dr Susan Kolimba said the door was opened for the investors particularly in manufacturing, railway and pharmaceutical industries.

“The door is open for Russian investors to explore and benefit from investment prospects, particularly in manufacturing, railway and pharmaceutical industries,” she said when gracing the occasion to mark Russia National Day.

“As the government moves to Dodoma, investment opportunities are available in the construction sector, real estate, agriculture and infrastructure development,” noted the Deputy Minister.

“I believe Tanzania and Russia can improve both the volume of trade and investment if the available opportunities would be well utilized,” she said.

The deputy minister said Tanzania has undertaken a number of measures in enabling conducive environment for investment, including fighting corruption and enhancing efficiency of the court, just to mention a few.

She assured that the government will continue to work closely with all relevant stakeholders to enhance business environment by reforming investment policies and legislations so as to promote the role of the private sector in economic development.

The Russian Ambassador to Tanzania, Mr Yuri Popov, has reaffirmed his country’s commitment to foster close relationship with Tanzania.

He expressed his appreciation for the existing close rapport between Russia and Tanzania, saying the two countries have enjoyed cordial relations during the time of USSR, underscoring his country’s support for liberation movements in Africa.

He pledged his support to Tanzania, maintaining that his country is a reliable partner in development. “Contemporary Russia is now the country to reckon with.

Russia still maintains its great economic and political influence in international sphere,” Ambassador Popov said during the occasion to celebrate the country’s National Day in Dar es Salaam on Friday evening.

According to the Ambassador, the momentum Russia gained in economic development has made the country to maintain its position as one of the most powerful and influential country in the world.

“Nothing is going to hold back our spirit for economic development and undermining Russia’s great economic and political potential in the world,” he said.

Source: allAfrica

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