TANZANIA Investment Center (TIC) has said that the government of Tanzania is in talks with the government of Vietnam to collaborate with local investors to construct a cashew nut processing factories.
TIC said the government is no longer interested to sell raw cashew nut to Vietnam and other part of the world, but now is looking for investors who will invest in building processing industries to add values of the precious nut.
TIC, Acting Director General Revocatus Rasheli revealed this yesterday during Tanzania-Vietnam Investment Forum held at the Mwalimu Nyerere International Conference Center (JNICC) in Dar es Salaam.
The investment forum attended by cashew nut business community from Vietnam and Tanzania, representatives from TIC, Export Processing Zone Authority (EPZA), Tanzania Ports Authority (TPA) Tantrade, Tanzania Agriculture Research Institute (TARI), Tanzania Private Sector Foundation (TPSFP), Cereal and other produce board.
He said for a very long time Vietnam government has been buying raw cashew nut from Tanzania and processing them in their industries before selling them in various international markets.
Rasheli said Vietnam government has shown interest to build cashew nut processing factories in Tanzania in collaboration with local investors to ensure the added value of the nut, before exports.
He said Vietnam has registered only six projects at TIC in the area of tourism, communication and real estate, but their total investment is $1.5 billion and which have created over 200,000 jobs to Tanzanians.
“Vietnam has been in a historical relationship with Tanzania since 1960s and we have being doing business, they have registered very few projects, but the value of the project is very high compared to other countries with many projects. But we at TIC, care much about foreign direct investment and employment to our people,” Rasheli added.
The Acting Director of Cashew nut Board (TCB), Francis Alfred, said Vietnam and India are potential markets of Tanzania cashew nuts, as they have been buying at least 90 percent of all cashew nut produced in Tanzania.
He said TCB plan to increase the cashew nut production from the current 250,000 tons to 700,000 tons in the year 2025/2026, adding that the investment forum has availed opportunity to meet with cashew nut buyers.
“We have challenges in cashew nut especially value addition; we have some industries but they cannot do enough and some of them were complaining that they don’t have enough supply for processing as we have allowed them to buy directly from farmers,” he said
Either, he said the market for raw cashew nut is very limited compared with the finished product that is why the government is creating conducive environment to introduce cashew nut processing industries.
He said valued addition in cashew nut will enable the government to sell in it various market all over the world and create employment to Tanzanian.
President Samia Suluhu Hassan addresses the ordinary meeting of Heads of the East African Community partner states held in Arusha city yesterday. Right is Kenyan President Uhuru Kenyatta. Photo: State House
Serengeti Breweries Limited (SBL) Managing Director Mark Ocitti watering a tree during a tree-planting event to combat aridity organized by a Dodoma-based NGO Habari Development Association (HDA) in partnership with SBL at Mirembe National Mental Health Hospital in Dodoma on Wednesday. Looking on (L) are Deputy Minister for Agriculture Antony Mavunde (R) and HDA’s General Secretary Benard James adding soil onto the newly planted tree. Photo: Guardian Corresponden
COAST Regional Commissioner, Abubakari Kunenge.
In Tanzania still about 70 to 80 per cent labour is absorbed in this sector. Agricultural progress permits the shift of manpower from agricultural to non-agricultural sector.
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