Tanzanian President Jakaya Mrisho Kikwete invited Turkish businesspeople to make investments in his country, saying that Tanzania offered great many business opportunities.
Speaking at a trade and investment forum held between Turkey and Tanzania on Saturday in Istanbul, Kikwete said the Tanzanian government held foreign investors exempt from corporate tax until when began posting profit and allowed foreign companies to transfer their profit.
Kikwete said his country's energy sector needed urgent attention as the country's total energy power was no more than 700 megawatts.
"Tanzania is a gateway to an African market of 300 million people and my country is rich in water and energy resources as well as climate, agriculture and valuable stones," Kikwete said.
He said Tanzania had a potential of generating four thousand megawatts of hydroelectric power, adding that the country also had millions of tonnes of coal and natural gas reserves.
Kikwete said Turkey and Tanzania could cooperate in the fields of energy, water, air and land transportation as well as telecommunication, adding that his country had signed preferential trade agreements with countries such as China, Japan, the U.S. and India.
"Making exports to these countries over Tanzania is much more easier. I invite Turkish businessmen to take advantage of the opportunities in our country," he said.