Tanzania woos Japanese investors to support Vision 2050
DODOMA: THE government has invited Japan and its private sector to participate in implementing Tanzania’s National Development Vision 2050 through investments in priority sectors identified in the country’s long-term development agenda.
The invitation was extended in Dodoma by the Deputy Permanent Secretary in the Ministry of Finance, Mr Nsubili Joshua, during discussions with a delegation from the Japan International Cooperation Agency (JICA), led by its Vice-President, Mr Hiroyuki Kobayashi.
Mr Joshua, who represented the ministry’s Permanent Secretary, Dr Natu El-Maamry Mwamba, said Vision 2050 has established a framework for cooperation between the public and private sectors in financing and implementing development projects.
Under the framework, the private sector is expected to contribute 70 per cent of the required resources, while the public sector will account for the remaining 30 per cent.
He said Tanzania welcomed Japan’s support in mobilising resources for the government’s contribution while encouraging Japanese private companies to explore investment opportunities in the priority areas identified under the vision.
The government believes stronger cooperation with Japan could help mobilise additional investment, support infrastructure development and strengthen the implementation of long-term national development priorities.
Mr Joshua explained that Tanzania was entering a new phase of its development agenda through Vision 2050 and the Fourth Five-Year Development Plan (FYDP IV), making international partnerships important in achieving the country’s ambitions.
He said the discussions also covered several areas of cooperation, particularly the implementation of road infrastructure projects and efforts to strengthen food security.
Mr Joshua expressed appreciation to the Japanese government and JICA for their longstanding cooperation with Tanzania, especially their contribution to the implementation of various development projects.
He noted that continued collaboration would be important in supporting the country’s development priorities and strengthening economic cooperation between the two nations.
For his part, JICA VicePresident, Mr Hiroyuki Kobayashi, congratulated Tanzania on preparing Vision 2050, describing it as an ambitious development framework with a clear direction for the country’s future.
He expressed JICA’s readiness to strengthen cooperation with Tanzania in supporting implementation of the vision, increasing revenues and attracting investment.
The discussions reflect Tanzania’s efforts to expand international partnerships as it seeks to mobilise resources, strengthen infrastructure and create an environment that encourages greater private-sector participation.
The proposed 70:30 financing and implementation framework places private investors at the centre of the country’s long-term development strategy, while maintaining an important role for public institutions in supporting and facilitating development projects.
Through continued engagement with development partners such as Japan, Tanzania hopes to strengthen the resources and partnerships needed to translate its development ambitions into practical results.
