The ease of doing business in Tanzania has wooed more investors in the country with the latest being a Chinese firm interested in a piece of the cake. Fosun Pharmaceutical (Fosun Pharma) is looking at prospects to invest in the East African investment hub, having studied the business environment for quite a while now. The pharmaceutical company will seek to add the tally of Chinese firms in the country once it establishes its plans.
The family-focused multinational company is looking for space to set up its factory from where it will be carrying out its services. Under the leadership of President John Magufuli, giving investors spaces to put up their companies has been a key priority and has proven to be fruitful. Being the leading health care group in China, having a large-scale investment would prove to be pivotal in the economy of Tanzania.
The Government of Tanzania would be graced to host the Hong Kong Listed company in the hope of cutting its expenses on the importation of pharmaceutical products as it weakens the country’s currency and render the state from building a competitive economy. Some of the finances would rather be put in constructive development projects that would spearhead the economy.
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With their presence, Tanzanians will be able to access high quality health services, an issue that has been cumbersome in most African countries. It will improve the health of the citizens to bolster their productivity in their day-to-day activities and cut the burden on the Government’s expenses.
The company has a number of accolades under its belt including “Best Investor Relations” Award and the Platinum Award scooped in 2017. The company has invested in technology and innovation with the Health ecosystem to help in development work and other research. It will play a great role in Tanzania with its wealth of expertise in the field.
