Germany says eager to invest more in TZ

THE German government has expressed its readiness to support Tanzania’s industrialisation drive by encouraging more investors to invest in the country.

Deputy Head of Mission at the German Embassy in Dar es Salaam, Mr Jorg Herrera, expressed delight over the Tanzanian government’s continued efforts to improve the business environment.

Mr Herrera was speaking at the ongoing 43rd Dar es Salaam International Trade Fair in which some German companies were participating to showcase their products.

He said President John Magufuli (pictured) had been emphasizing on the need for a conducive business environment that has been complimented by the government’s decision to start implementation of the Blueprint on July 1, this year.

“When the Vice President. Ms Samia Suluhu Hassan, opened the Saba Saba exhibitions, she emphasized on the need to improve the business climate and implementation of the blueprint … this is very important in attracting more busi-nesses,” he said.

He said that they were ready to encourage more German investments into Tanzania and were hopeful that the business climate would be improved further.

“Investors, especially foreign ones, are more encouraged by the blueprint which we are sure will simplify the tax system,” he said.

He said that investors also wanted a reliable legislative regulatory framework that gives assurance that the rules of the game will not change as well as assurance of companies to use International arbitration.

He explained that investments they have so far include Twiga Cement and Kanuf Gympson. He noted that Germany was also in discussions with the government to set up a $3 billion fertiliser plant in the south.

The discussions started in 2012 and was hopeful they would be finalised by 2020. In another development, he said the trade volume between Germany and Tanzania stood at $309 Euros but could increase if the East African Community improved its integration.

“If the EAC is liberalised, we can import using the Dar es Salaam Port and distribute the goods to other EAC countries,” he said.

He said Germany was participating in Saba Saba exhibitions for the fourth time and it had been named the first foreign pavilion for three consecutive years.

“I am very proud of that … we want to strengthen business relations with Tanzania by showcasing the best that we have in the best possible way… we plan to have more space and companies participating in the coming exhibitions,” he said.

Source: Daily News