Dutch money is about to flow to Tanzania. Here’s how you can cash in...

Dar es Salaam. If you are an investor based in Tanzania and looking to do business with a Dutch counterpart, things are about to get a whole lot easier for you. 

Tanzania has just signed a memorandum of cooperation with the Dutch Council for International Business (DCIB), through the Tanzania Investment Center (TIC) – and what that means for you is an opening up of a world of investable opportunities.

During a press event at the Centre Thursday (May 31), TIC Executive Director Geoffrey Mwambe told reporters that the deal provides a framework for cooperation and determines where investor cash should be funneled.

If properly deployed, that deal could mean easier flow of Dutch money to your Dar-based business, and a chance for you to Make in Tanzania and ship to Maastricht under a preferential arrangement.

" The agreement seeks to establish joint ventures between Dutch business persons and our local investors," said Mr Mwambe, adding that they expect the deal to help open up communications between Dar and The Hague that should boost engagement in areas of shared interests, particularly in the field of investment.

The deal is recent, signed by a Tanzanian side represented by the TIC chief, and a Dutch side represented by DCIB chair Hans Biesheuvel. 

To give the agreement some traction, Tanzania will host a Dutch business delegation later this year who will be exploring the possibility of “establishing joint ventures,” according to Mr Mwambe.

As part of the agreement, TIC officials will undertake comprehensive training funded by the Dutch council to build local capacity.

At the same time, the TIC Executive is urging local private investors to cooperate with the foreign players in creating joint ventures in the key sectors of oil, gas, industry, agriculture, energy, to mention a few.

"Foreign investors have urged my office to get a list of local investors from the private sector who are serious and willing to set up joint ventures," he said.

To that end, the TIC is in communications with the Tanzania Private Sector Foundation (TPSF) to expedite the process.