Tanzania to host agribusiness investment conference this week

By a Correspondent, Dar es Salaam

Tanzania will this week host a first ever Agribusiness Investment Showcase Event to be held in Dar es Salaam.

The two day conference under the theme ‘Accelerating Tanzania’s Agribusiness Investment’ is organized by Tanzania Investment Centre (TIC) in collaboration with the Prime Minister’s Office and the Southern Agriculture Corridor of Tanzania (SAGCOT) Centre.

Announcing the conference over the weekend in Dar es Salaam, the Acting Executive Director of TIC, Mr. Raymond Mbilinyi said the event meant to harness the potential for investment in agriculture, trade and socio-economic development in the SAGCOT region with a view to introducing prospective investors through tailor made targeted investment promotion and physical visits.

Mr. Mbilinyi told journalists that SAGCOT Investor Showcase is expected to attract 70 foreign prospective investors and over 40 local companies ready to seize all existing investment opportunities falling under the corridor.

“The government is actively promoting SAGCOT,” he told journalists.

He said President Jakaya Kikwete and Premier Mizengo Pinda has shown dedication in promoting agriculture in the country and that it is now a time to put things in action for the benefit of local and foreign investors and the country at large.

He said that the conference will be an opportunity for local agribusiness investors to network with their counterparts from abroad.  It is expected that participants from outside the country will come from Asia, Europe and Far East.

“This event will give a splendid opportunity for both local and foreign investors to learn and understand why to invest in SAGCOT,” he explained, adding that a variety of ministers will present papers on various ways for which to attain development through modern agriculture from different perspectives.

There will also be presentations on specific investment projects in the rice, sugar and livestock sectors, including dedicated breakaway discussions and questions and answers sessions.

There will be also an opportunity to visit earmarked investment sites on the second day and see work underway to improve supporting infrastructure.

On her part, the Deputy Chief Executive Officer, SAGCOT Centre, Ms. Jennifer Baarn said the conference is an opportunity to showcase what the country has to offer, but more specifically, what its investment priorities are.

“SAGCOT is Kilimo Kwanza in action, targeting Tanzania’s south-central “granary” region. ” she said, referring to the country’s initiative (Agriculture First) that seeks to transform the agriculture into a highly productive sector and an engine of economic.

SAGCOT is a public-private partnership that hopes to catalyze responsible private sector investment that will bring major benefits to domestic food supply, engage with smallholder farmers and local communities, and strive to do so in an environmental sustainable way.

Ms. Baarn said that SAGCOT is looking forward to work with the Tanzanian government in addressing specific policy reforms that will enable both local and foreign investors to make sustainable investments in the corridor.

The 2011 SAGCOT investment blueprint envisions clusters of profitable farming and agricultural services businesses supported by coordinated investments in infrastructure, value chains, farming systems, and human capital.

Innovative financing mechanisms, including a multi-donor catalytic investment fund, will leverage over $2bn of private investments.

Ends