EPZA Engages in High-Level Talks to Enhance Investment Opportunities with China's Zhejiang Province

Dar es Salaam, March, 2024.

In a bid to bolster investment opportunities and strengthen economic ties, Tanzania recently hosted a high-level meeting between the Minister for Planning and Investment and Heads of Trade and Investment Promotion Institutions, along with representatives from China's Zhejiang Provincial Government. Held in Dar es Salaam in the meeting aimed to explore avenues for collaboration and mutual benefit.

Tanzania delegates led by Prof Kitila Alexander Mkumbo (MP), Minister in the President's Office-Planning and Investment, the gathering witnessed the presence of key figures such as Director General Charles Jackson Itembe representing EPZA, alongside representatives from China led by Mr. Lu Shan, Vice Governor of Zhejiang Province, accompanied by H.E. Chen Mingjian, the Chinese Ambassador to Tanzania.

Tanzania, with a keen eye on expanding its investment landscape, expressed a strong interest in harnessing the economic potential offered by Zhejiang Province. With Zhejiang population which total about 65 Million and its ranking fourth in GDP nationally and sixth by GDP per capita, boasting a nominal GDP of US$1.14 trillion as of 2024, Tanzania sees an opportunity to capitalize on Zhejiang's economic prowess for mutual benefit.

Discussions at the meeting revolved around exploring avenues for cooperation in various sectors including trade, investment, technology transfer, and infrastructure development. Tanzania's objective is to tap into Zhejiang's vast resources and expertise to drive economic development within the country.

The meeting highlighted the significance of fostering robust bilateral relations between Tanzania and China, with a focus on tangible outcomes that contribute to socio-economic advancement. As Tanzania strives for economic diversification and sustainable development, collaborations with dynamic regions like Zhejiang Province hold immense promise for driving mutual prosperity.

The engagement signals a significant stride forward in strengthening the economic partnership between Tanzania and China, with the potential to unlock new avenues for cooperation and investment that will benefit both nations.