Korean afirm to expand trade and investment ties with Tanzania
SEOUL: KOREAN business leaders have expressed renewed interest in expanding trade and investment ties with Tanzania, praising the country’s rapid infrastructure development and improving business environment as key drivers of investor confidence.
The commitment was conveyed during high-level talks held in Seoul between Tanzania’s Minister for Foreign Affairs and East African Cooperation, Ambassador Dr Mahmoud Thabit Kombo and representatives of South Korea’s leading business associations and corporations.
The meeting, held alongside a working luncheon, focused on strengthening economic cooperation and showcasing investment opportunities available in Tanzania across a range of sectors.
South Korean business executives commended the progress made by Tanzania under the leadership of President Samia Suluhu Hassan, particularly in the development of strategic infrastructure that supports trade, investment, and regional connectivity
They cited major projects such as the Standard Gauge Railway (SGR), expanded port facilities and improvements in transport services as transformative investments that are enhancing Tanzania’s competitiveness and positioning the country as an increasingly attractive destination for foreign capital.
According to the business leaders, the ongoing infrastructure upgrades have significantly improved the efficiency of moving goods and services, creating favourable conditions for investors seeking access to both the Tanzanian market and the wider East African region.
The executives noted that these developments have prompted growing interest among South Korean companies looking to explore opportunities in sectors ranging from construction and logistics to manufacturing and trade.
Responding to the investors, Dr Kombo welcomed the continued confidence shown by South Korean businesses, including companies already operating in Tanzania, and reaffirmed the government’s commitment to maintaining a stable and investor-friendly business environment.
He said Tanzania remains open to international investment and will continue implementing reforms aimed at attracting greater foreign direct investment, enhancing competitiveness, and supporting private-sector-led growth.
“The government remains committed to creating an enabling environment for business and investment. We invite more Korean companies to take advantage of the vast opportunities available in Tanzania’s strategic sectors,” Dr Kombo said.
The South Korean delegation included executives from some of the country’s largest companies involved in construction, international contracting, and import trade.
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Among the participating organisations were the Korea Importers Association (KOIMA) and the International Contractors Association of Korea (ICAK).
Dr Kombo is in South Korea to attend the Africa–Korea Foreign Ministers’ Meeting, taking place from May 31 to June 2, 2026.
The forum brings together foreign ministers and senior officials from African countries and South Korea to deepen diplomatic, trade, and investment cooperation.
