Private sector key to blue economy agenda

DAR ES SALAAM: VICE-PRESIDENT Deogratius Ndejembi has said private investment will be crucial to advancing the country’s blue economy agenda, urging investors to seize opportunities in blue carbon trading, marine biotechnology, value addition of marine products and logistics services.

Speaking in remarks delivered on his behalf by Minister of State in the Vice-President’s Office (Union and Environment), Engineer Hamad Yussuf Masauni, at the opening of the Fifth International Blue Economy Conference (IBEC) in Dar es Salaam yesterday, he said the country’s Vision 2050 seeks to transform marine and freshwater resources into sustainable drivers of economic growth.

“I call on the private sector to take advantage of the opportunities available in the blue economy, including blue carbon trading, marine biotechnology, value addition of marine products and logistics services that support the development of this agenda,” he said.

He said the government has set 2050 targets, including generating 1 billion US dollars annually from blue carbon trading and another 1 billion US dollars from blue biotechnology, making greater private sector participation critical to achieving the country’s long-term economic vision.

Mr Ndejembi said the country also aims to generate 2,000 megawatts of renewable offshore energy, increase annual revenue from marine tourism to six trillion shillings and raise maritime cargo trade and transportation to 100 million tonnes by 2050.

He said blue economy development goes beyond the availability of marine and freshwater resources and depends on science, technology, innovation and cooperation among stakeholders to turn those resources into real economic opportunities.

“Blue economy development requires more than having resources. It requires transforming these resources into real economic opportunities through science, technology, innovation, production and cooperation among stakeholders,” he said.

The Vice-President also called on development partners to strengthen support for African countries through institutional capacity building, research, technology transfer, access to capital and financing for strategic projects that can accelerate sustainable blue economy development.

He said scientific research and innovation remain essential for improving production, developing new products, adding value to marine resources and protecting the environment.

“Research findings should also play a greater role in informing policy decisions and developing practical solutions to challenges facing the blue economy in Africa and beyond,” he said.

He further urged stakeholders to strengthen cooperation in scientific research, environmentally friendly technology transfer, investment, human capital development, management of shared resources and protection of marine ecosystems.

The three-day conference, held under the theme “Powering Blue Initiative for Sustainable Economic Growth in Africa,” has brought together local and international experts to discuss research, innovation and investment opportunities across the blue economy.

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Deputy Minister for Transport, Mr David Kihenzile said maritime transport remains a key pillar of the blue economy, with opportunities spanning ports, passenger and cargo transport, international shipping, shipbuilding, maritime safety, marine technology and environmental protection.

“Our commitment is to strengthen maritime infrastructure and services to improve efficiency, reduce transportation costs and time, enhance safety and increase the country’s competitiveness in domestic, regional and international trade,” he said.

Dar es Salaam Maritime Institute (DMI) Rector, Professor Tumaini Gurumo said the conference has produced tangible results since its inception in 2022, including increased public awareness, stronger institutional cooperation, policy development and expanded international partnerships.

“This year’s conference features presentations by 10 experts from Tanzania and abroad, alongside discussions on findings from local and international researchers,” she said.

Prof Gurumo said the conference resolutions are expected to accelerate blue economy development by promoting investment, developing skilled human resources, protecting the environment and encouraging the adoption of modern technologies across the sector.