Tanzania has committed to facilitating investors from Cuba in sugar production and medical drugs.
The announcement was made by Tanzanian President John Magufuli on August 30th 2016 during a meeting with Jorge Lopez Tormo, Cuban Ambassador to Tanzania.
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.
The Tanzanian President noted that the country 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.
He noted that the strategic areas where sugar plants will be established include: Rufiji Valley, Kigoma, Kilosa, Ngerengere and Bagamoyo.
