Chinese investors eye mega projects in Bagamoyo SEZ
What you need to know:
- A delegation of six Chinese investors have shown interest to invest the Bagamoyo port and its Special Economic Zone (SEZ), the long awaited strategic economic project.
Dar es Salaam. Chinese investors have shown interest in investing in the Bagamoyo Special Economic Zone (SEZ) project to be implemented under the Economic Processing Zone Authority (EPZA).
A delegation of six Chinese officials representing major agrobusiness firms and other entities revealed this interest in Dar es Salaam at the weekend.
“It’s good for investors to follow up on the progress of the Bagamoyo projects, as this will make it possible for them to seize the available opportunities,” said EPZA investment promotion and facilitation director James Maziku.
EPZA and the Tanzania Ports Authority (TPA) have partnered with China Merchant Holding International (CHMI) and Oman’s State Government Reserve Fund (SGRF) as strategic investors in developing an industrial park and port within the Bagamoyo SEZ.
Mr Maziku said the purpose of the Chinese delegation’s visit was to seek more details on the Bagamoyo projects and enable the companies make informed investment decisions, particularly in agriculture.
“They want to invest in the agriculture sector with the aim of exporting processed products to China and elsewhere.”
Mr Maziku added that a decision by the Chinese to invest in Bagamoyo would come as a big boost to Tanzania’s agriculture sector in particular and the industrialisation drive in general.
Speaking on behalf of the delegation, Beijing Urban Development vice president Wang Kai said the Bagamoyo projects, especially the proposed port, would play a key role in the export of goods from Tanzania to China’s Jiangsu Province and other global markets.
“The port will be the driver of other mega investment projects to be implemented in the Bagamoyo SEZ,” he said, adding that their visit was aimed at familiarising themselves with the Bagamoyo SEZ master plan and policies governing investment in agriculture.
They were also looking into the possibility of establishing direct links between the proposed Bagamoyo Port and Xuawei Port in Lianyungang City, Jiangsu Province.
The Bagamoyo SEZ, which covers an area of 9,000 hectares, is on course to be the largest project to be implemented in Coast Region.
Latest figures from EPZA show that investments in export processing zones and special economic zones have grown to over $1.29 billion.
