Tanzania resorts to regular dialogue with global investors to attract productive investments

LONDON: TANZANIA High Commissioner to the United Kingdom, Mbelwa Kairuki, has said the government continues to maintain regular dialogue with the international investment community as part of efforts to strengthen partnerships and attract productive investments into the country.

Ambassador Kairuki made the remarks while addressing the Tanzania Strategic Investment and Partnership Forum held in the United Kingdom, which brought together senior executives from major global financial institutions, the insurance sector, and risk management experts.

The forum was organised by the Ministry of Finance in collaboration with Standard Bank UK to discuss investment opportunities and strengthen economic cooperation between Tanzania and international investors.

In his address, Ambassador Kairuki said Tanzania is implementing a comprehensive economic transformation agenda focused on strengthening macroeconomic management, advancing structural reforms, and increasing private sector participation in economic growth.

“Tanzania is implementing an ambitious economic transformation programme centred on strong macroeconomic management, structural reforms and private sector participation. We welcome continued collaboration with international investors as partners in achieving sustainable and inclusive economic growth,” Ambassador Kairuki said.

During the forum, investors sought clarification on the progress of the proposed $42 billion Liquefied Natural Gas (LNG) project.

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Responding to the concerns, Ambassador Omar explained that discussions on the project had made significant progress, with the remaining issues mainly involving internal processes among commercial partners. He said the government was ready to proceed with the next steps once the partners complete their internal procedures.

Investors also expressed strong interest in strategic projects, including the Standard Gauge Railway (SGR), the ports of Dar es Salaam, Tanga and Mtwara, as well as regional trade connectivity opportunities.

The government informed investors that by 2030/31, nearly all 2,000 kilometres of the SGR network are expected to be completed, a development that will strengthen Tanzania’s position as a major trade and transport hub in East Africa.

Other issues discussed during the forum included access to foreign currency, energy security, the growth of the digital economy, agriculture, and value addition initiatives such as the “Cotton-to-Cloth” programme, which aims to develop Tanzania’s cotton value chain from production to textile manufacturing.