Rostam Aziz calls for local investors to be prioritised in national development agenda
Prominent businessman Rostam Aziz
Dar es Salaam. Prominent businessman Rostam Aziz has urged the government to prioritise local investors in the country’s development agenda, saying that while foreign investment is important, sustainable national growth depends heavily on empowering domestic businesses.
Speaking in a widely circulated interview, Mr Aziz said, “Every country needs foreign investors, but real nation-building happens when local investors are given priority.”
He explained that many countries now have structured frameworks where certain sectors—especially those involving large-scale or strategic projects—are deliberately set aside for foreign investors, while others are reserved for domestic participation or joint ventures.
Citing the example of Tanzania’s upcoming natural gas project, Mr Aziz noted the highly technical nature of such undertakings. “Only a few companies in the world can manage deep-sea gas extraction—100 kilometres offshore and 10 kilometres below sea level. No Tanzanian firm currently has the capacity to execute such work, so in that case, it makes sense to invite foreign investors in the national interest,” he said.
However, for other large projects that are still beyond the country’s current capabilities, Mr Aziz proposed that foreign companies should be encouraged to form joint ventures with local investors. “There must be a structure. Some projects should involve partnerships, and others should be exclusively for Tanzanian investors,” he stated.
He also emphasised the importance of giving Tanzanian investors preferential treatment in government tenders—particularly in the construction of roads, bridges, and other infrastructure—arguing that these are funded by taxpayers and the money should remain within the country.
“If we don’t prioritise our own investors, we risk watching all the money leave the country. We need foreign capital, yes, but not at the expense of our own growth. In sectors like construction, where public funds are used, that money should circulate locally,” he stressed.
Mr Aziz added that by favouring local firms in tenders and contracts, Tanzania can help build strong domestic businesses capable of investing further and competing globally in the future.
“This issue needs to be examined carefully and planned wisely,” he concluded.
