DODOMA: Mr. Exaud Kigahe, the Deputy Minister for Industry and Trade, has extended an invitation to businesses taking part in the 8th Power and Energy Africa International Trade Exhibition to make investments in Tanzania. He has emphasized that Tanzania offers a plethora of trade and investment prospects.
The Deputy Minister also stated that there is a big opportunity for investment in the energy industry and that Tanzania’s energy sector is undergoing considerable transition, driven by a combination of traditional and renewable energy sources.
During the 8th Power and Energy Africa International Trade Exhibition, which took place in Dar es Salaam, Mr. Kigahe delivered the following speech.
Leading businesses in the industry from China, India, Germany, France, United Arab Emirates, South Africa, Pakistan, Ethiopia, Zambia, and Kenya are exhibiting for three days.
He greeted everyone and stated, “I am happy to announce that Tanzania offers many prospects for trade and investment. Tanzania is a country with enormous potential.” According to Mr. Kigahe, substantial investments are being made in energy infrastructure, such as the building of new power plants and the enlargement of the electrical grid.
Energy capacity will be increased by projects like the Likong’o-Mchinga Liquefied Natural Gas (LNG) plant, the new Nyerere Hydropower Plant, and the Kakono Hydropower Project. He stated that in order to encourage the expansion of the energy industry, the government has put in place a number of laws and policies.
“These comprise the Public-Private Partnership (PPP) frameworks, the Rural Energy Act, and the Electricity Act,” he continued.
According to a related development, Tanzania’s energy sector is expected to grow significantly, with a focus on sustainability and expanding access to clean energy.
He stated, “It is anticipated that this progress will spur economic growth, raise Tanzanians’ standard of living, and lessen all forms of environmental pollution.”
The CEO of the Chinese solar power company Fadsol, Jackson Wu, has expressed interest in making investments in the nation.
Mr. WU conveyed his satisfaction with the positive business environment that the government has established. He claimed that Tanzania’s stable political and economic conditions make it an excellent market.
According to Mr. Duncan Njage, Regional Director-East Africa at Expo Group, the show this year has been a huge success, drawing exhibitors from 22 different nations. Additionally, Mr. Njage encouraged Tanzanians to visit the show and view the range of solar products.
