Chinese investors ink pacts to turn Mwanza into Africa's Shanghai

A Team of Chinese investors and the authorities in Mwanza, Tanzania's second
largest city after Dar es Salaam, have signed memorandum of understanding for investments in eight major areas. The areas include tourism and agriculture, authorities said on Monday.

 

Halifa Hida, Mwanza city director, said among the major investments the city signed with the Chinese investors were construction of satellite cities in Luchelele and Igoma suburbs in a bid to improve wildlife and cultural tourist attractions on Saanane Island and the Serengeti National Park.

 

"The Chinese investors who visited the city were impressed by abundant investment opportunities found in the region," said Hida.

He said that the Chinese investors will cooperate with their local counterparts through the Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA) in implementing various projects in tourism, business and agricultural sectors.

 

Officials and business executives from Mwanza's sister city of Yangpu in China's Shanghai toured Mwanza last week and signed the pacts in the attendance of the city's top officials.

 

Hida said the Chinese investors' visit to Mwanza followed a tour of the region's officials to China in August this year.

"I believe Mwanza residents will benefit in terms of infrastructure, employment and investments from the just signed agreements," Hida said.

 

Ma Xiaohua, the chairman of Chinese People's Political Consultative Conference of Yangpu, said he was impressed with Mwanza and its abundant investment opportunities and promised to work closely with residents and the authorities in implementing projects signed in the agreements.

SOURCE: THE GUARDIAN