Tanzania lures Russian investments to support the country’s ongoing economic reforms

ARUSHA: THE Deputy Minister in the President’s Office for Planning and Investment Pius Stephen Chaya has invited Russian investors to explore business and investment opportunities in Tanzania, citing ongoing economic reforms aimed at strengthening the country’s investment climate.

The Deputy Minister made the call during the opening of the Tanzania–Russia Business and Investment Forum on May 15, 2026, noting that Tanzania continues to create a conducive environment for investment and international cooperation under the leadership of President Samia Suluhu Hassan.

Additionally, he said the government is implementing major economic reforms intended to position Tanzania as a regional hub for trade, industry and investment in Africa.

“I urge Russian investors to take advantage of the opportunities available in Tanzania in sectors such as mining, agriculture, manufacturing, energy, information and communication technology, as well as technical education,” Dr Chaya said.

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Moreover, he said that Tanzania aims to attain upper-middle-income economy status by 2050 through a development vision that prioritises industrialisation, innovation and private sector participation.

According to the deputy minister, the growing cooperation between Tanzania and Russia is expected to boost trade, employment, technology transfer and industrial development in the country.

Dr Chaya further noted that the participation of about 120 Russian companies alongside hundreds of Tanzanian businesspeople at the forum reflects growing economic relations and strong prospects for future cooperation between the two nations.