Tanzania’s next five years to be defined by economic growth, says President

“It is the responsibility of the government to advance economic growth. Over the next five years, we will begin implementing the National Development Vision 2025–2050, aiming to build an inclusive nation with prosperity, justice, and self-reliance,” she said.

The President highlighted key sectors that will form the backbone of this growth strategy, including agriculture, tourism, industry, construction, and mining.

“The new Vision sets criteria for selecting priority sectors and areas. Among the strategies to be implemented is investing more in sectors that employ large numbers of people,” she added.

Tanzania’s economic targets are ambitious. The President announced plans to raise the country’s economic growth from the current 5.6 percent to over 7 percent by 2030.

“This growth will enable the Government to improve social services and build enabling economic infrastructure,” she noted.

Central to this approach is balancing macroeconomic development with improvements in people’s everyday lives. “Our direction is inclusive growth, one that touches both the micro and macro economy,” she said.

The role of the private sector, particularly local businesses, will be pivotal. President Hassan pledged to enhance the business environment through initiatives such as the Business Environment Improvement Plan (MKUMBI) and tax reforms proposed by a special commission she formed.

“We will continue to strengthen capital markets by encouraging domestic investment and using our resources, such as minerals, to secure investment loans rather than relying heavily on national debt,” she said.

Price stability and cost of living are also high on the agenda. The President promised to curb inflation and incentivise domestic manufacturing to produce affordable goods for both local and international markets.

“We will introduce tax and non-tax incentives to stimulate production and competitiveness of local products,” she said.

Youth empowerment forms a critical pillar of the five-year economic blueprint. The government plans to support young entrepreneurs and small business owners by providing business education and facilitating participation in the Government Electronic Procurement System (TANSIS).

Technical and vocational training programmes will be expanded to link skills development with strategic projects such as the Standard Gauge Railway (SGR), port development, the blue economy, mining, and gas sectors.

“Through these programmes, young people will gain experience and employability,” she said.

Special initiatives will also target women in business. The government aims to formalise and support women’s enterprises, improve market infrastructure, access to clean water and sanitation, healthcare services, and childcare facilities.

“We will enhance funding coordination through Citizen Economic Empowerment Funds to help women formalise their businesses and access loans,” the President told Law makers.

In addition, the government plans to designate business zones for small and medium enterprises, enabling formal recognition and smoother operations.

By leveraging the country’s natural resources and large workforce, President Hassan believes Tanzania can achieve her target of creating 8.5 million jobs across various sectors by 2030.

“This is a plan based on our people’s potential, resources, and strategic partnerships with the private sector. If we execute it effectively, Tanzania will witness inclusive growth that empowers individuals, strengthens industries, and drives the nation towards prosperity,” she concluded.

The President’s speech signaled a clear economic roadmap for Tanzania, where growth, job creation, and inclusivity form the pillars of her five-year agenda.

The success of this vision will hinge on effective implementation, private sector participation, and sustained focus on empowering young people and women across the country.