Continuing its ambitious investment promotion tour in China, the Tanzania Investment Centre (TIC) has marked a significant presence in Shanghai, one of China’s most vibrant economic hubs.
This visit comes on the heels of TIC’s successful engagement in Guangzhou, as TIC intensifies its efforts to attract foreign investment into Tanzania.
In a strategic move to showcase Tanzania’s investment potential, the TIC, in partnership with Yingke Law Firm, engaged with key Chinese investors and business leaders in Shanghai.
The delegation included representatives from Tanzania’s Export Processing Zones Authority (EPZA), SINOTAN, and MODERN Industrial Parks, highlighting Tanzania’s readiness for diverse industrial investments.
Engagement with Shanghai’s Business Community
The TIC’s agenda in Shanghai was packed with high-level meetings and interactive sessions. A notable event was hosted by the town mayor of Baoshan District, where the delegation visited MEDIPARK, a hub for pharmaceutical innovation. Here, the TIC team met with executives from leading companies like Gem Pharmatech and Cheerland Biotechnology, exploring opportunities for pharmaceutical investment in Tanzania.
Highlighting Opportunities in Diverse Sectors
The visit was not just confined to the pharmaceutical sector. The TIC successfully conducted a forum attended by over 50 Chinese investors from various industries, including manufacturing, energy, agriculture, and minerals. The Executive Director of Yingke Shanghai, the Vice President of the Shanghai Enterprise Association, and other dignitaries graced the event, underscoring the importance of Sino-Tanzanian economic relations.
Post-Roadshow Engagements and Prospective Investments
Following the roadshow, the TIC engaged in detailed discussions with several Chinese companies. Notably, Kumvest expressed interest in exploring opportunities in LNG, LPG, and Diesel in the second half of 2024. Additionally, Anhui Xinmin Glass Co Ltd showed intent to establish their investment in Tanzania, reflecting the growing interest from diverse industrial sectors.
Exploring Medical Device Manufacturing Opportunities
In a significant move towards enhancing healthcare infrastructure, the TIC visited the Shanghai Intelligent Medical Devices and Active Health Collaborative Innovation Centre. Discussions centered on the potential for establishing medical device production facilities in Tanzania, a step that could revolutionize the country’s medical sector.
Snowsea Company’s Investment Plans
In a key development, the TIC introduced Snowsea Company, planning to establish a production facility for fridges and freezers in Tanzania. This meeting, which also involved EPZA, highlighted the potential for consumer electronics manufacturing in Tanzania, diversifying the country’s industrial base.
Engagement with Hunan Chamber of Commerce
Furthering its investment outreach, the TIC met with companies from the Hunan Chamber of Commerce in Shanghai, including We Care, Bokuang Ltd, Bread Tail, and a biotechnology firm specializing in soft drinks. These interactions underscored Tanzania’s appeal as an investment destination across various sectors.
Strategic Meeting with Hongkou District Officials
To conclude the Shanghai roadshow, TIC, in partnership with Ms. Molly Cai, held a meeting with officials from the Hongkou District. Attended by the Deputy District Head of Hongkou, the Director of the Shanghai Global Centre, and other key figures, the meeting focused on fostering collaboration to attract more investors from China, particularly from the Hongkou District. The District showed interest in organizing delegations to Tanzania and utilizing the Shanghai Global Investment Centre as a platform for TIC to reach global investors.
Final Discussions with Shanghai Wooray Metals Group Company Ltd
In a concluding meeting, TIC and EPZA met with Shanghai Wooray Metals Group Company Ltd, a leading importer of ferrous metals in China and an experienced player in commodity trade since 1992. The company, already invested in Tanzania through projects in aluminum window production and a steel structure factory, expressed interest in expanding into the mining sector, seeking guidance for further investments in exploration and value addition in minerals.