Tanzania-Nordic Cooperation strategy inked to promote investment  

DAR ES SALAAM: THE Tanzanian government has launched a Tanzania–Nordic Cooperation Strategy, which aims to strengthen economic diplomacy and promote investment rather than dependence on aid.

The Minister for Foreign Affairs and East African Cooperation, Ambassador Mahmoud Thabit Kombo, disclosed this in a discussion with Ambassadors from Nordic countries based in Tanzania which aimed at strengthening cooperation in sustainable development, investment, and trade.

Additionally, the minister noted that the strategy focuses on nine priority sectors, including renewable energy, infrastructure, technical education, the blue economy, industry, forestry, and trade through the Aid for Trade initiative.

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Speaking at the meeting held in Dar es Salaam, Minister Kombo expressed appreciation to the Nordic countries for their long-standing relations with Tanzania since independence, noting that Tanzania has continued to benefit from assistance and projects in the sectors of education, energy, health, good governance, and rural electrification.

According to the minister, the contribution has built a foundation of mutual trust and cooperation that benefits citizens.

He further said that Tanzania plans to attract between 1bn US dollars and 1.5bn US dollars in investment from Nordic countries and has submitted 17 priority projects to be implemented in partnership with TISEZA to advance technology, innovation, and inclusive employment.

The minister also called on Nordic financial institutions such as Norfund, Finnfund, and Swedfund to collaborate with the government in establishing a Joint Investment Financing Fund.

For their part, the Nordic Ambassadors expressed their commitment to strengthening relations with Tanzania by shifting from an aid-based approach to a balanced partnership focused on economic diplomacy.