Tanzania has stepped up efforts to attract foreign investment after the Minister of State in the President’s Office for Planning and Investment, Kitila Mkumbo, represented the country at the Nantong Investment Promotion, Economic and Trade Exchange Conference held on March 18, 2026, in Nantong.
The high-level forum brought together more than 200 investors and business leaders, mainly from the textile and manufacturing sectors, highlighting Nantong’s role as one of China’s major textile production centres, responsible for about 60 percent of the country’s textile output.
The conference aimed to promote investment opportunities while advancing commitments made during the Forum on China–Africa Cooperation Summit 2024, where Xi Jinping pledged 50 billion US dollars to support ten key areas of cooperation between China and Africa, including investment promotion and industrial development.
Speaking at the forum, Prof. Mkumbo presented Tanzania as a strategic destination for investment, pointing to the country’s political stability, expanding access to regional markets, and its long-term development framework known as Tanzania Development Vision 2050.
He said the vision aims to build a competitive, industrialised and knowledge-based economy.
The minister explained that Tanzania is actively seeking foreign direct investment in priority sectors such as textiles and garments, agriculture, livestock and fisheries, mineral processing, manufacturing and tourism.
He added that the government plans to expand large-scale textile production, particularly in the regions of Mara Region, Shinyanga Region and Simiyu Region.
During the visit, Prof. Mkumbo held discussions with investors to explore potential partnerships and encourage long-term collaboration with Tanzania.
Several participants expressed interest in investing in the country, citing its favourable investment climate, peace and stability.
Notable participants included representatives from major Chinese companies such as Nantong Hengxing Machinery, SINO Africa Coal Group and the East Africa Commercial and Logistics Centre.
On the sidelines of the conference, Prof. Mkumbo also held bilateral talks with the Mayor of Nantong, Zhang Tong, focusing on expanding economic cooperation and strengthening trade and investment ties between Tanzania and China.
The engagement is seen as another step in strengthening Tanzania–China economic relations while positioning Tanzania as a gateway for investment into Africa’s rapidly growing markets.
