Sri Lanka Tanzania Investment Chamber launched in Dar es Salaam

sri lanka tanzania

Aug 11, 2016 (LBO) – Sri Lanka and Tanzania look set to expand business and investment promotion between the two countries with the launch of the Sri Lanka Tanzania Investment Chamber in Dar es Salaam, Tanzania last week.

The chamber was inaugurated by Minister of Tourism Development, Christian Religious Affairs and Lands, John Amaratunga.

“With both countries enjoying a period of economic revival under their respective new governments this is the best possible time for an initiative of this nature. This chamber has laid the foundation for investment promotion. We want to promote partnerships,” he said.

A Sri Lankan businessman in Tanzania, Lal Silva was appointed as the Chairman of the Chamber.

“Areas that were previously out of bounds to tourists due to the conflict are opening up for investment. Some of these places are rich in wildlife, a sector that Tanzania has much experience and expertise in,” he said.

The Minister of Tourism in the island of Zanzibar was also present at the inauguration, a region that has exotic hotels noted for its high end clientele.

“We have many home grown brands that have ventured beyond our shores to operate hotels in many parts of the world. I will brief them on the opportunities available in Tanzania,” Amaratunga said.

Tanzania too has seen rapid growth in its tourism industry in the last six years, with arrivals up from 690,000 in 2009 to 1.3 million last year. Tanzania also attracted the highest FDI in the East African region amounting to over 2.1 billion dollars in 2015.

As the first business venture of the Sri Lanka Tanzania Investment Chamber, fiberglass fishing boats manufactured in Sri Lanka by Danusha Marine will be made available to the Tanzanian fishing community which still predominantly uses boats made out of wood.

The Tanzanian Minister Jumanne Maghembe said his government will place an order for 500 of the boats as an initial step.

The following day Minister Amaratunga presided at a ceremony to officially declare open a new residential building for Buddhist monks in the city of Dar es Salaam.

The modern building was built by a Sri Lankan businessman in Tanzania, Thangavelu Nallavan.

Speaking at the event Minister Amaratunga said the religious unity in Tanzania was an example to the rest of the world in this turbulent period. The handing over ceremony was witnessed by the Catholic Bishop of Dar es Salaam and representatives from the Muslim and Hindu communities.

“I am glad that the Chief Monk for the African Continent, Ven. Dr. Ilukpitiye Pannasekara Thero has always been preaching religious harmony in this region,” the Minister noted while commending the benevolent gesture of the non-Buddhist Sri Lankan businessman.