Tanzania, Vietnam in talk to build cashew processing factories

Published 2022년 7월 23일

Tridge summary

The Tanzania Investment Climate (TIC) has announced a strategic shift towards encouraging investment in the cashew nut processing industry, moving away from the previous model of raw material exports to Vietnam and other international markets. This pivot is aimed at adding value to the cashew nut value chain, creating more job opportunities, and enhancing foreign direct investment. The announcement was made during the Tanzania-Vietnam Investment Forum, which saw participation from key stakeholders in the cashew nut industry and related sectors. The Tanzanian government's objective is to increase cashew nut production from the current 250,000 tons to 700,000 tons by 2025/2026, addressing supply challenges in processing industries and capitalizing on the limited market for raw cashew nuts.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

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 ...

Source: IPPMedia