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Chinese firms’ investment in Tanzania exceed USD6.62bn

Chinese Ambassador to Tanzania Lu Youqing said that the Tanzania-China economic cooperation had been rapidly growing and had reached an unprecedented scale.

Chinese firms’ investment in Tanzania exceed USD6.62bn

Chinese Ambassador to Tanzania Lu Youqing said that the Tanzania-China economic cooperation had been rapidly growing and had reached an unprecedented scale.

24 April 2017 Monday 12:30
Chinese firms’ investment in Tanzania exceed USD6.62bn

THE influx of Chinese companies in the country has swelled their investment volume significantly, surpassing the USD 6.62 billion (about 15trn/-) mark, according to the Chinese Embassy in Dar es Salaam.
Speaking during the weekend at an event where outstanding employees with Chinese companies in Tanzania were awarded, Chinese Ambassador to Tanzania Lu Youqing said that the Tanzania-China economic cooperation had been rapidly growing and had reached an unprecedented scale.

During the event a total of 28 Tanzanians working for Chinese companies were awarded for their outstanding performance and their long-term dedication and loyalty to their jobs.

He also said that Chinese companies had also created over 150,000 jobs, adding that there were about 350,000 people engaged in work related to the China-Tanzania bilateral trade.

“By the end of last year, Chinese investments in Tanzania had totalled six billion US dollars,” said Dr Youqing.

He said in the vigorous bilateral economic and trade cooperation, a large number of employees from Tanzania and China had made outstanding achievements.

The ambassador added that employees working in Chinese companies not only obtained knowledge and technology, but also enjoyed improvement in quality of life. 

“Many of them have become the technical backbone or senior management personnel of Chinese companies and are undertaking the responsibility of training other local staff,” he said.

“By the end of 2016, Chinese investment in Tanzania reached USD 6.62 billion. They love and cherish their jobs and enjoy personal progress along with the Chinese companies’ development,” he added.


For his part, the Chairman of the National Economic Empowerment Council from the University of Dar es Salaam, Dr John Jingu, called upon other staff to learn from the award winners and produce positive energy to push forward the process of Tanzania-China economic cooperation, industrial tie-in and capacity relocation.

“Let’s carry on and disseminate the Tanzania-China friendship, engage in and promote our economic cooperation, and write a new chapter of Tanzania-China comprehensive and cooperative partnership, featuring mutual benefits and a win-win outcome,” he added.

The Guardian

Updated: 24.04.2017 13:02
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