All East Africa - Latest NewsTANZANIA

Tanzania: Kenyan Investors Are Welcome to Tanzania

President John Magufuli has assured Kenyans who wish to invest in Tanzania to come and establish businesses, dismissing claims that his administration has been frustrating Kenyan traders and ignoring issues concerning the East African Community.

President Magufuli, who was in Kenya for a two-day state visit, acknowledged the crucial role Kenyan investors play in the economy, with 529 Kenyan firms operating in the country, employing 56,260 people with their collective investment valued at 1.7 billion US dollars.

Moreover, TIC statistics show that trade between Kenya and Tanzania has increased from 6.5bn/- in 2010 to 2tri/- this year. This means there is good relations and growth of trade between the two countries.

With such huge investment in the country, the need for the two countries to strengthen relationship and strategise for further economic growth cannot be overemphasized. Dr Magufuli said he was always in touch with President Kenyatta through the phone, and still considers Kenya as a number one partner in Africa as he sought to reaffirm Tanzania’s relationship with Kenya following reports of a strained business relationship between the two neighbours.

He told his host, President Uhuru Kenyatta, about the focus of his administration to pluck off tax evasion holes and fight corruption and embezzlement of public finances to enable the country move forward. The two leaders directed their foreign ministers to form a joint commission to chart the way forward on bilateral relations.

The joint ministerial team will be headed by Foreign Minister, Dr Augustine Mahiga, and his Kenyan counterpart, Ms Amina Mohamed. As the Fifth Phase Government embarks on building an industrial-driven economy, it is very important for the country to open up and call for both local and foreign investors.

Tanzania like any other country in the world needs to cooperate with others to realise positive changes in various areas, including economic growth.

©  Alleastafrica and Tanzania daily newa

Related posts

Uganda: Army Court sentences 4 to death for murdering mobile money agents


Sonko defends decision to pick Miguna for Nairobi post


ODM clashes with William Ruto over push to amend laws


This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More