ITALY: TANZANIA is seeking European investment in critical minerals, manufacturing and agro-processing as it steps up efforts to attract capital, technology and expertise to expand value addition and create jobs.
Deputy Minister of State in the President’s Office (Planning and Investment), Dr Pius Chaya, said Tanzania was particularly interested in investors who could help transform raw materials into finished and semi-finished products and strengthen domestic value chains.
Dr Chaya made the call recently during a business and investment meeting in Helsinki, Finland, held as part of Tanzania’s investment mission in Europe.
“Tanzania has investment opportunities in agriculture and agro-processing, manufacturing, mining and mineral value addition, energy, infrastructure, tourism, ICT and the digital economy,” Dr Chaya said.
He said the country had continued improving its business environment while positioning the private sector as a key driver of economic growth.
Dr Chaya said Dira 2050 seeks to build a competitive, inclusive and sustainable economy driven by private investment, technology and innovation.
Tanzania Investment and Special Economic Zones Authority (TISEZA) Director General, Mr Gilead Teri, said the country was seeking productive investment capable of generating wider economic benefits beyond capital inflows.
“Our focus is not simply to attract capital but to attract investment that adds value to our resources, creates jobs, transfers technology and strengthens Tanzania’s position in regional and global value chains,” Mr Teri said.
Critical minerals featured prominently during the meeting, with the Tanzanian delegation presenting opportunities in graphite, nickel, cobalt, niobium and other minerals.
The opportunities cover exploration, extraction, processing and value addition, with projects presented including Epanko Graphite, Kabanga Nickel, Southern Rukwa Helium and Panda Hill Niobium.
Mr Teri said Finnish technology companies could participate through direct investment, joint ventures, technology transfer and partnerships with Tanzanian companies.
“These opportunities provide room for Finnish companies with technology and expertise to invest directly, form partnerships and transfer technology into Tanzania,” he said.
He said TISEZA was ready to guide investors from the initial identification of opportunities through to project implementation.
Mr Teri said the authority’s One Stop Facilitation Centre brings together key investor services and relevant government institutions to simplify procedures and facilitate project implementation.
TISEZA also presented the Buzwagi Special Economic Zone, being developed on the former gold-mining site in Kahama, Shinyanga Region.
The zone is expected to support industrial processing and mineral value addition by building on infrastructure already available at the site.
Finland expressed interest in expanding its more than 60-year relationship with Tanzania into emerging areas of economic cooperation, particularly critical minerals and digitalisation.
Finland’s Political Secretary, Mr Pasi Rajala, said the relationship had evolved from development cooperation to broader economic engagement.
He said digitalisation and mining presented opportunities for the two countries to deepen economic cooperation.
The Tanzanian delegation’s investment mission in Europe, which began on September 28, is expected to conclude on October 6.
