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Home arrow News and Events arrow President's Speeches arrow At the Swedish Trade Council, Stockholm, Sweden 20th Feb. 2007
At the Swedish Trade Council, Stockholm, Sweden 20th Feb. 2007 Print E-mail


Mr. Chairman;
Honourable Ministers;
Honourable Members of Parliament;
Distinguished Participants;

Ladies and Gentlemen;
    Let me start by saying how happy I am to be here this morning. My delegation and I thank the Swedish Trade Council for organising this meeting and for the excellent facilities put at our disposal.  We would also like to thank our hosts for the warmth of their reception and gracious hospitality.
    Mr. Chairman, I am aware that I am addressing business people whose time is money.  So I will try as much as possible to be brief and to the point. 
    My delegation and I are here to talk business.  We have come to introduce you to Tanzania so that you can come to invest

// and do business with us.
and do business with us.  Let me therefore start by telling you what investment opportunities exist in our country. 
    As you may know Tanzania is a land of unlimited investment and business opportunities.  Huge opportunities abound in mining, for Tanzania is blessed to have most of the minerals known to exist in the earth crust.  Minerals such as precious metals, industrial minerals, base metals and natural gas are available in large quantities.  We are third after Ghana and South Africa in gold production.  We produce 50 tonnes of gold annually and the prospects do exist for more discoveries.  
    So far we have found sizeable quantities of gas in three places.  The third field which was discovered early this year in a place near Dar es Salaam contains 20 million cubic feet of gas.  The search for oil continues both onshore and offshore although we are yet to make any discoveries.  However, we remain optimistic of one day finding oil given the fact we have sizeable gas quantities in several places in the country.  

// We encourage you to
    We encourage you to come and join the exploration for gas and oil.  We also welcome you to invest in hydropower generation where the demand is still very high.  Bio-fuel is another area of interest to us to which we would like you to come in.  
    There are also unparalled investment opportunities in the tourism sector.  As you know Tanzania is home to the world’s greatest game parks like the Serengeti Plains, Ngorongoro Crater, Mount Kilimanjaro, Selous game reserve and the exotic serene sandy beaches of Zanzibar. 
    We invite you to come and invest in tourist hotels.   We need more first class hotels in order to cope with the increasing number of tourist arrivals which is growing every year.  Already we have designated areas in the game parks which we intend to allocate to prospective investors through a competitive tender system.    For example, we want to build two five star hotels in the Serengeti Plains which have recently been declared the seventh wonder of the world.

// There are also opportunities
    There are also opportunities in agriculture, forestry, fisheries and manufacturing particularly in agro-processing.  Further profitable opportunities exist in the Communication Technologies (ICT) and Telecommunications sectors.  The later (telecommunications) is the fast growing sector in the country at the moment.  There are six million mobile phone subscribers which is the highest in the East African region. 
Mr. Chairman;
    Those of you who will opt to come and invest in Tanzania will be assured of a rewarding association and partnership with us.  Moreover, you will find in Tanzania a very attractive investment destination.
§    Tanzania offers fiscal incentives which vary from one sector to the other.  I have with me here the Director of Tanzania Investment Centre (TIC) who will have the opportunity

// later to give you more

later to give you more information on the incentives being offered.
§    Apart from highly competitive fiscal incentives Tanzania offers other attractions which make it a premier investment destination. 
§    Investors are allowed to freely repatriate profits.  This means that, your shareholder’s money will be guaranteed.
§    There are no political risks in Tanzania.  Investments are protected by law against nationalization and expropriation.  Tanzania is a member of the Multilateral Investment Guarantee Agency (MIGA) and Centre for International Settlement of Disputes (CISD).
§    There is a stable political environment.  Tanzania is a bastion of peace and stability in the region.  There is no possibility of a force majure situation.
§    Tanzania upholds good governance, respect for human rights and rule of law.
§    The fight against corruption is unrelenting.
// .Tanzania provides a getway
§    Tanzania provides a getway to six landlocked countries in East and Central Africa and offers a wealth of market opportunities for investors.  Apart from having a local population of more than 36 million consumers, Tanzania has access to an additional 310 million consumers in SADC and EAC to which it is a member.
    We welcome you to come and take advantage of this huge market.  You can relocate some of your industries which produce for the African market to Tanzania to make use of our country’s strategic geographical position to reach out to other countries on the continent.
Mr. Chairman;
Ladies and Gentlemen;
    This time I have come here to discuss investments with you.  This is the new dimension to our bilateral relations.  As you know our cooperation has always been based on development assistance (ODA).  But now we want to move beyond ODA to include trade.

// At the moment Tanzania
    At the moment Tanzania exports very little to Sweden.  For instance, in 2005 Tanzania’s exports to Sweden were valued at 686,680 US dollars.  In 2006 they were worth 515,370 US dollars.  On the other hand, Sweden’s exports to Tanzania in 2005 were 73.2 million US dollars.  In 2006 they were valued at 52.3 million US Dollars. 
    When you look at these figures it is clear that there is a serious trade imbalance between the two countries.  But that is besides the point.  What is important is for us to do more to increase bilateral trade.
Mr. Chairman;
    In conclusion, let me thank you once again for the opportunity to speak to you this morning.  I hope that I have been able to give you a proper picture of what Tanzania can offer you.  We look forward to receiving those of you who will ultimately decide to come and invest in our country.  I assure you that you will find all our hands outstretched to welcome you to Tanzania. 

    I thank for your attention. 

Last Updated ( Tuesday, 20 May 2008 )
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