Companies from Singapore have shown great interest in strengthening investment in various sectors in Tanzania including gas and oil.
Executive Director of Tanzania Investment Centre (TIC), Ms Juliet Kairuki
The Executive Director of Tanzania Investment Centre (TIC), Ms Juliet Kairuki told journalists Tuesday that already there were some Singaporean companies that have shown interest in investing in oil and natural gas resources in the country.
Ms Kairuki was talking shortly after signing a Memorandum of Understanding (MoU) between TIC and IE Singapore Cooperation Enterprises in Dar es Salaam.
“Already some companies have bought shares in oil and natural gas resources,” she said. The MoU will facilitate exchange of investment and business information between Tanzania and Singapore for the mutual benefit of both countries and was witnessed by other three companies from Singapore.
According to Ms Kairuki, the companies came to learn more about Tanzania and opportunities found in various areas. “They have come to learn more on immigration matters, tax, work permits and land issues for investment,” she said.
She noted that the MoU would help in strengthening investment and business relations and attract more investors. “TIC is ready to help investors by following the country’s laws and regulations,” she said.
The Deputy Chairman, IE Singapore Cooperation Enterprises, Mr Seah Moon Ming said their visit signified their resolve to strengthen ties with Tanzania in investment and business arenas. “We need to exchange information between us for the mutual benefit of all,” he said.
He mentioned areas they are interested in as agriculture, ICT and urban planning. Companies present were Pavilion Energy, Temasek Holdings and Singapore Cooperation Enterprise (SCE).
Source Tanzania Daily News
