TZ attracts investors to boost economy

DODOMA: THE government is implementing conducive policies and improving the regulatory environment to enhance investor confidence, a key driver of long-term inclusive economic growth.

As a result, it has reduced or eliminated 39 fees and levies to attract local and international investors.

These developments were highlighted on Friday during the 2025 High-Level Strategic Dialogue in Dodoma, bringing together government officials, Non-State Actors and Development Partners (DPs) at the Permanent Secretaries’ level.

Officiating the session, Zanzibar’s Principal Secretary in the Ministry of State, Office of the President, Finance and Planning, Dr Juma Maliki Akili, who represented Finance Ministry Permanent Secretary Dr Natu Mwamba, emphasised the crucial role of development cooperation in fostering economic and social progress.

As part of this initiative, the government has streamlined investment procedures by reducing duplication and overlapping mandates while eliminating fees that deter investors.

Additionally, the Investment Act No 10 of 2022 provides for the establishment of the Tanzania Electronic Investment Window (TeIW) and a reduced investment threshold for local investors.

This year’s discussions focus on investment opportunities, climate and clean energy financing and human capital development.

Held under the theme “Towards Vision 2050: Accelerating Resilience and Inclusive Development in Times of Uncertainty,” the meeting aims to strengthen cooperation and chart a path for sustainable economic growth.

According to Dr Akili, from November 2020 to January 2025, Tanzania approved 424 investment projects with a proposed capital of 5.9 billion US dollars, expected to create over 22,000 jobs.

“This engagement is pivotal in building trust between the government and its partners while ensuring the realisation of agreed development targets,” he said, urging stakeholders to engage with open minds and bold ideas.

He underscored the importance of aligning national development strategies with Sustainable Development Goal (SDG) 17, which advocates for effective partnerships.

“As we finalise the Tanzania Development Vision 2050, reflecting Tanzanians’ aspirations for the next 25 years, this dialogue provides a platform to generate insights that will shape our nation’s long-term growth,” he stated.

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The session also reviewed the implementation of recommendations from last year’s dialogue, which focused on human capital development, food security, infrastructure enhancement and development financing.

Notable progress includes revising the National Youth Development Policy (2007) to align with economic and technological shifts and reviewing the Technical Education and Training Policy (1996) to strengthen education-labour market linkages.

On food security, Tanzania has adopted ClimateSmart Agriculture (CSA) to improve resilience against climate change. Through the Tanzania Agricultural Research Institute (TARI), the government has introduced drought-tolerant crops like maize and sorghum and expanded irrigation projects to boost agricultural productivity.

In infrastructure, Dr Akili cited major projects such as the expansion of the Standard Gauge Railway (SGR), modernisation of Dar es Salaam Port and the extension of the National ICT Broadband Backbone (NICTBB), now connecting seven out of eight neighbouring countries, enhancing transport and digital access.

Regarding development financing, he highlighted the government’s push for innovative strategies, including Public-Private Partnerships (PPPs) and climate finance initiatives.

“A dedicated Climate Finance Coordination Section has been established within the Ministry of Finance to mobilise resources for environmental sustainability projects,” he said.

United Nations Resident Coordinator and DPG Cochair, Susan Ngongi-Namondo, reaffirmed the collective commitment to partnership, stating that dialogue must continuously evolve to address emerging challenges.

“We celebrate Tanzania’s development progress in health outcomes, infrastructure and its role in shaping regional growth by hosting key development conferences and summits,” she said.

She commended Tanzania’s economic resilience, noting that prudent macroeconomic management has laid a strong foundation for future progress.

“With the ambitious Vision 2050 aimed at transforming Tanzania into an industrialised middle-income country, the private sector’s role in enhancing domestic revenue, creating jobs and ensuring sustainable financing for development is crucial,” she added.

On climate and energy, she acknowledged Tanzania’s strides in sustainability through initiatives like the National Clean Cooking Strategy, the Renewable Energy Strategy and the National Energy Compact.

“These efforts reflect the government’s commitment to resilience, particularly in addressing climate shocks affecting rural communities and key sectors like agriculture and infrastructure,” she noted.

Participants are expected to propose actionable solutions to enhance partnerships, address financial gaps, and drive resource mobilisation.

The dialogue will culminate in adopting key recommendations to guide Tanzania’s policy direction toward sustainable and inclusive development.