Chinese companies eager to invest in economic projects

CHINESE companies have shown interest to put up projects in such sectors as electronics, textiles, cosmetics, chemicals, pharmaceuticals and finance.

The prospective investors have described Tanzania as a peaceful country where business can flourish.

Speaking in separate interviews during the ongoing China-Africa media conference to highlight Chinese companies in Africa, some senior company officials said they were ready to launch projects in the country.

“Improved efficiency at the Dar es Salaam port is also contributing to more investments,” said a Chinese official interviewed.

The Tanzania Tooku Garment Company located at the Dar es Salaam Export and Processing Zones Authority (EPZA) wants 200,000 ha to set up ten plants in the country. Another firm, Sunshine Group, announced plans to invest in the pharmaceutical industry, fruit canning and agro-processing.

The Sino-Africa media conference involves 30 journalists from Tanzania, China and Kenya. Chinese journalist are led by the Deputy Director of China Broadcasting Corporation—Xinhua, Zhou Liang.

The tour started by visiting Sunshine Company, a parent firm to ten companies including Sunbelt - the oil processing plant supplying cooking oil across the globe.