Local investors encouraged to take advantage of oil, gas expo
DAR ES SALAAM: TANZANIANS have been encouraged to leverage the presence of various foreign companies and enterprises exhibiting their products in the country for experience sharing, skill enhancement and knowledge exchange.
Director of Investment Promotion and Facilitation at the Export Processing Zone Authority (EPZA), Mr James Maziku, made these remarks while gracing the 19th Oil and Gas International Expo in Dar es Salaam.
He said this engagement will inspire local investors to launch their own ventures.
“While we are opening up opportunities here, the significant investments from these companies over the next five years will encourage Tanzanians to explore technology investments, allowing them to either partner with these firms or adopt their technologies for local production,” Mr Maziku stated.
He insisted the importance of keeping the door open for collaboration: “By doing so, we can learn and gain new industrial skills. Tanzanians employed in these factories will acquire valuable industry knowledge, rather than having to seek these opportunities abroad.”
Mr Maziku represented the Minister for Industry and Trade Selemani Jafo at the expo, which is expected to set to take three days and has attracted foreign companies from more than 22 countries, including Russia, China, and Republic of Korea.
He noted that having international companies exhibit in Tanzania presents a prime opportunity to attract a diverse range of investors.
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With representatives from these countries participating, Mr Maziku labeled the event as an excellent platform for Tanzania to market its investment areas, policies, and business environment.
He commended the foreign exhibitors for showcasing their products, noting the positive feedback regarding Tanzania’s favourable investment climate, largely attributed to political stability.
Furthermore, he said that Tanzania offers a conducive investment environment with robust laws, policies, and compliance measures, despite some challenges that the government is actively addressing.
“Events like this are beneficial, and we expect to host more exhibitions as opportunities arise. Investment will come to Tanzania, where potential investors can see opportunities firsthand. The investment policies and laws are clear; all investors must adhere to our regulations, which include environmental, land, labor, and health laws.”
Commenting on the expo, Mr Maziku noted that involving diverse investors in producing commodities that strengthen the oil and gas value chain can enhance competitiveness within the country.
Expo Group Director General Duncan Njagi said that the event provides a valuable opportunity for Tanzanians to learn and acquire new skills, particularly in the latest automobile technologies.
“Tanzanians should attend in large numbers to explore the various new technologies showcased at this expo, as we aim to advance in this sector with modern vehicles utilising cutting-edge technology,” Mr Njagi said.
