ONOMO Hotel Dar es Salaam

Tanzania and Cuba to Strengthen Bilateral Relations

Tanzania Cuba investments

Tanzania and Cuba commit to strengthening bilateral relations with focus on economic benefits and mutual cooperation.

The announcement was made on October 3rd 2016 by President John Magufuli during a visit of the Cuban Vice President, Salvador Valdes Mesa, to Tanzania.

Magufuli and Mesa discussed the various investment opportunities in Tanzania, especially in the pharmaceutical and sugar sectors.

TanzaniaInvest Whatsapp Channel

For this, the Tanzanian President invited Cuban investors to the country, noting that Cuba has vast expertise in these sectors.

Magufuli further noted that he will immediately offer land to prospective investors in sugarcane production and pharmaceuticals, which are highly demanded in Tanzania and its neighboring countries.

On his side, the Cuban Vice President assured Magufuli that Cuba is ready to cooperate with Tanzania for economic development.

On August 30th 2016, President Magufuli held a meeting with Jorge Lopez Tormo, Cuban Ambassador to Tanzania to discuss investment opportunities in Tanzania’s sugar and medical drugs production.

During the meeting, Magufuli noted that Tanzania has suitable land for sugar plantations, including 10,000 hectare area in Bagamoyo, 75 kilometres (47 miles) north of Dar-es-Salaam on the coast of the Indian Ocean.

Currently (2016), Tanzania produces an average of 300,000t of sugar per year, while the demand is estimated at 590,000t per year, of which 420,000t is for direct domestic consumption and the remaining 170,000t is for industrial use.

Earlier in 2016, Prime Minister of Tanzania, Kassim Majaliwa, said that more sugar plants will be established in the next 4 years across the country to meet the growing demand for sugar.

RELATED:  Mkulazi Sugar Factory Begins Operations Adding 50,000 TPY to National Production

He noted that the strategic areas where sugar plants will be established include: Rufiji Valley, Kigoma, Kilosa, Ngerengere and Bagamoyo.

Related Posts