africa Diplomacy Events FDI Government Industry Tanzania Tourism

China event to lure investors, tourists to Tanzania

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This will be the first time for an African country to be a special partner in the event that seeks to promote cooperation of countries.

 

The foreign relations between East Asian country China and East African nation Tanzania is growing stronger and healthier. Tanzania has been honoured to be a special partner for the 15th China-ASEAN Expo (CAEXPO) 2018 in Nanning, Guangxi in China scheduled to take place on September 12th – 15th. The Belt and Road Initiative started by the Chinese Government over two thousand years ago is meant to transform infrastructure in a number of countries. The country’s involvement in infrastructure development in Africa has led to economic growth and increased job opportunities.

China has heavily invested in Tanzania, not only because the latter has a conducive business environment but it has a vast array of business opportunities. The Tanzanian Government has been keen to increase the flow of Foreign Investments in the country offering incentives to lure potential investors to the market. From transport to communication, Chinese companies have supported Tanzania’s economy to be competitive regionally. President John Magufuli has reiterated the need to have partnerships to support local industries as well.

In the international business expo organized by China, at least 20 Tanzanian businesses will feature. This will give them access to a wider market and expose them to a new environment, entrepreneurs and investors. They will showcase their products to various participants and visitors. China has organized a venue where business forums will be held in a bid to lure investors and tourists to Tanzania. This would be an icing on the cake for the sub-Saharan state that highly esteems tourism sector and has performed remarkably well in the industry.

The industry is one of the fastest growing in the nation and has hosted a number of celebrities and iconic figures from around the globe. It is a competitive sector regionally and has outshone other African countries with its tourist attraction sites. Its nature and culture, have added spice to the adventure experienced by various tourists. The sector hopes to bag in more revenues as it seeks investors.

Source: The Exchange

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