Singapore FDI in Tanzania hits US$535M from 36 projects

DAR ES SALAAM: Singapore’s investment in Tanzania has surged to US$535.13 million, spread across 36 projects, creating 3,228 jobs for Tanzanians across key sectors of the economy.

The figure comes as Singapore President Tharman Shanmugaratnam undertakes a three day state visit to Tanzania at the invitation of President Samia Suluhu Hassan, with discussions expected to focus on expanding trade and investment cooperation.

Singapore has emerged as one of Tanzania’s key investment partners, with the investments spanning agriculture, transport, construction, and natural resources.

The visit is taking place as the two countries mark 45 years of diplomatic relations, a milestone that underscores long-standing cooperation between the two nations in political and economic fields.

ALSO READ: Tanzania, Singapore boost cooperation during historic state visit

The visit is expected to inject fresh momentum into bilateral relations, with talks focusing on trade and investment, port development and logistics, the digital economy, education and skills training, tourism, infrastructure, technology and innovation, as well as sustainable development.

For Tanzania, the partnership offers opportunities to attract investment, enhance skills development, and accelerate participation in the digital economy. It also supports the country’s broader economic diplomacy agenda aimed at positioning Tanzania as a competitive destination for business and innovation.

Singapore remains one of Tanzania’s key investment partners as the two countries continue to deepen cooperation in economic development.