Dar es Salaam. Tanzania and France are expected to accelerate their investment ties as 15 new French companies are set to invest in the country by next year.

The French ambassador to Tanzania, Mr Frederic Clavier, said the new firms will add to the 40 firms which are currently operating in the country covering areas of science and technology, transport and energy. Mr Clavier made the remarks during an event to mark the French national day at the weekend.

“I have a very good outlook for new investment of French companies into Tanzania….by next year the number of investors will go up from the current 40 to between 50 and 55 companies,” said the envoy.

According to him, the expectations are high because Tanzania is a key member of the East African Community (EAC) and a gateway to the Southern African Development Community (Sadc).

He said the investment will open up business opportunities between Tanzania and other member countries of the blocs that the country is subscribing to.

“This is the right time for us to continue having good relations in a win-win situation with Tanzania. Moreover, France though the French Development Agency (AFD) will be issuing €120 million every year to support development projects and help Tanzania in its efforts to become a middle income country by 2025,” he added.

Speaking at the event, the Minister for Home Affairs Kangi Lugola assured France of a continued cooperation to strengthen the bilateral ties. Mr Lugola represented the Minister for Foreign Affairs and East African Cooperation Dr Augustine Mahiga.

He also invited more tourists and investors to come to Tanzania and explore business opportunities available in the country.

“We have revived our national airline and therefore it will be easy for tourists from all over the world, including France, to come to Tanzania,” he said.

Mr Lugola also extended government’s appreciation of French assistance programmes channelled through AFD to support water, sanitation, education, energy, health, transport and tourism.