DAR ES SALAAM, Dec 11 (NNN-DAILYNEWS) — THE Tanzanian government aims to register investment projects worth 50 billion US dollars (about 122 tri/-), which are expected to create eight million jobs by 2030.
Minister of State in the President’s Office (Planning and Investment), Professor Kitila Mkumbo, revealed the plans recently during a press conference outlining government strategy to boost investment through the Tanzania Investment and Special Economic Zones Authority (TISEZA) over the next five years.
Mkumbo said the targets are achievable given the positive trend in Tanzania’s investment landscape, which saw registered projects grow from 3.7 billion US dollars (about 9tri/-) in 2021 to 9.3 billion US dollars (about 23tri/-) in 2024.
“To achieve the fiveyear target, the Ministry of Planning and Investment, through TISEZA, will aim to register projects worth at least 10 billion US dollars (about 25tri/-) annually,” he said.
He said that these ambitious investment targets support the implementation of the National Development Vision 2050, which seeks to transform Tanzania into a trillion-dollar economy. They also align with the ruling CCM Election Manifesto 2025-2050, which aims to create eight million jobs by 2030.
“We want to translate the promises made during electoral campaigns nto concrete actions,” Prof Mkumbo told reporters.
Regarding priority areas, Prof Mkumbo said that the government will focus on manufacturing, agriculture, agri-processing, financial services, mining, livestock, fisheries, pharmaceuticals, commercial buildings, tourism, as well as oil and gas.
On tax and non-tax incentives, he said the government will prioritise projects that can generate substantial jobs, boost exports, enhance sectoral linkages, guarantee value addition and expand the government’s tax base.
Mkumbo also outlined plans to improve the performance of the One Stop Facilitation Centre (OSFC), TISEZA’s designated body for investors.
The OSFC, composed of 14 government agencies, including the Business Registrations and Licensing Agency (BRELA) and Immigration, is essential for registering projects efficiently.
Furthermore, he said the government will consolidate and expand its land bank, noting that TISEZA currently possesses over 170,000 hectares, including farms and Special Economic Zones (SEZs), to provide investors with ready-to-use areas for their projects.
Highlighting the importance of engaging with investors, Prof Mkumbo said the government will establish a National Investment Forum to bring together investors and the Ministry every three months, starting January 2026.
Placing youth at the heart of investment, he added that before the end of December, the government will establish the Youth Investment Resource Centre.
The centre will support young investors by providing guidance on writing business plans, accessing investment capital and technology, and successfully running businesses. — NNN-DAILYNEWS