DAR ES SALAAM, the country’s commercial capital and leading financial centre, naturally attracts much attention from both local and foreign investors.
And with the current media concentration, the city gets prominence in the news, almost on daily basis.
However, there are great stories unfolding somewhere far from the city. In Simiyu Region, a historical business forum began yesterday, aimed at promoting trade and investment opportunities in the region that was established in 2012.
Tanzania Standard (Newspapers) Limited, the publisher of the ‘Daily News,’ ‘HabariLeo’, ‘Sunday News,’ ‘HabariLeo Jumapili’ and ‘SpotiLeo’ - has teamed up with other partners to organise the forum, with about 100 participants expected from within and outside the country to explore investment opportunities.
Other partners are Tanzania Revenue Authority, National Microfinance Bank, TIB Development Bank, TIB Corporate Bank and National Economic Empowerment Council.
The forum has also attracted members from different business platforms, regional and district leaders as well as Members of Parliament (MPs). Simiyu profile, prepared in 2013, describes the region as one of the potential areas for investment in agricultural production, agro-processing, livestock industries, tourism, mining, fishing and fish farming.
The region leads in cotton production in the country, with over 150,000 tons of seed cotton per annum. It’s therefore suitable for investment in cotton ginning, spinning and textile industries. In addition, the region has over 1.5 million heads of cattle that project it the best place for the dairy industries, meat processors and tanneries.
The region has successfully established a chalk factory, which started humbly in Maswa District, with hardly a 30m/- capital, growing rapidly and exhibiting great potential, thanks to growing demand of its products.
Local entrepreneurs and potential investors will also get the opportunity to interact with tax authorities, financiers, different institutions and organisations as well as trade experts who will provide advice on business and investment related issues.
The forum certainly offers potential to boost the region’s profile as an attractive investment destination in the country and the region with critical role to play in the promotion of the industrial agenda. For local, foreign traders and investors, the forum is another never-miss opportunity.