Dar es Salaam. Twenty investment companies from Japan are in the country to explore opportunities in agriculture, tourism, and the industrial production sector, as part of efforts to strengthen ties between the two countries.
These companies have met with 50 Tanzanian firms to exchange experiences, share technology, and collaborate on joint business ventures, which ultimately will improve the economy of the country and increase local employment.
The Japanese investors come at a time whereby the total value of Japanese investment over the past 12 years has reached more than $11.4 million (over Sh28.8 billion) in 24 projects registered with the Tanzania Investment Centre (TIC) and managed to generate over 1,000 jobs. Speaking at the opening of the Tanzania-Japan Investment and Business Forum on yesterday, the Deputy minister for Industry and Trade, Mr Exaud Kigahe, highlighted the significance of this initiative for Tanzania’s investment sector.
“Tanzania and Japan share a long-standing relationship in trade, particularly in development projects in the industrial and road sectors,” he said.
He noted that Japan remains a major development partner that exports goods such as vehicles and electronics, while Tanzania exporting raw materials and agricultural products, including processed items such as tea and coffee.
“We import a significant number of vehicles from Japan, and now we would like some of the vehicle’s spare parts to be produced here in Tanzania. Additionally, we want to export processed products, not raw materials, thereby this forum is coming timely,” he said.
According to him, the benefits of producing some products include job creation, the introduction of modern technology, and increased exports, which will help generate foreign exchange.
Mr Kigahe also pointed out that Tanzanian and Japanese businesses will continue to meet, exchange knowledge, and collaborate, with Japanese companies bringing advanced technologies.
For his part, Japan’s Deputy Minister of Foreign Affairs, Mr Hisayuki Fujii, said that Tanzania is one of Japan’s key partners in trade and diplomacy.
“The relationship between our two countries has grown even closer, which is a source of pride. I would like to take this opportunity to thank the governments of both countries, alongside this investors’ meeting, which opens up new opportunities,” he said.
On the other hand, Japanese investor Yoshiyuki Mizouchi of Tanja Company based in Karatu said “Our company is involved in agriculture. We have been here since 2023 and have provided jobs for Tanzanians. We hope that more Japanese companies will come to invest.”
However, he said they were facing various challenges, especially related to tax issues, but they were grateful to the Tanzanian government for allowing regular meetings with investors, which has helped resolve some of the challenges, and the business environment continues to improve.
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