PM courts French investors in Vision 2050 execution drive
Prime Minister Mwigulu Nchemba speaks with Tanzania’s Ambassador to France, Saidi Othman Yakubu, immediately after arriving in Paris for the World Kiswahili Language Day meeting. Looking on (right) is the minister of Foreign Affairs and East African Cooperation, Amb Mahmoud Thabit Kombo. PHOTO | PMO
Dr Nchemba pointed to opportunities in the blue economy, citing Tanzania’s Indian Ocean coastline as a platform for investment in fisheries, aquaculture and maritime transport
Paris. Prime Minister, Dr Mwigulu Nchemba, has urged French investors to expand their presence in Tanzania, positioning the country as a strategic destination for long-term investment as Dar es Salaam accelerates implementation of its Development Vision 2050.
Dr Nchemba made the appeal yesterday during the Tanzania–France Business Roundtable held in Paris, where he led a high-level delegation aimed at strengthening bilateral economic ties and deepening private sector cooperation between the two countries.
The meeting brought together senior Tanzanian government officials, French business leaders and representatives of the private sector from both countries.
Among those present were Minister for Foreign Affairs and East African Cooperation Ambassador Mahmoud Thabit Kombo, Minister for Minerals Anthony Peter Mavunde, Minister for Energy Deogratius Ndejembi, and Tanzania’s Ambassador to France and Permanent Delegate to UNESCO Saidi Othman Yakubu.
French business representatives included MEDEF International Chief Executive Officer Philippe Gautier and President of the French–East African Business Council Celine Gouvieia, alongside Tanzanian entrepreneurs and investors operating in Europe.
On behalf of President Samia Suluhu Hassan, Dr Nchemba expressed Tanzania’s appreciation to the Government of France and business communities in both countries for their continued efforts to strengthen economic cooperation.
He said Tanzania–France relations were entering a new phase, shifting from traditional development cooperation towards a more commercially driven partnership focused on investment, industrial development, technology transfer and value addition.
“This evolution reflects deliberate policy choices by both governments and growing confidence among our respective business communities,” he said.
Dr Nchemba said Tanzania was implementing its Development Vision 2050, which targets the creation of a one-trillion-US-dollar economy anchored on industrialisation, innovation and inclusive growth. He said the government was undertaking reforms to improve the business environment, strengthen institutions and expand infrastructure in order to position Tanzania as a regional hub for manufacturing, logistics, innovation and investment.
Agriculture, he said, remains a cornerstone of the economy, contributing 26.5 per cent of GDP and employing about 65 per cent of the workforce. However, he emphasised the need for increased investment in agro-processing, mechanisation, irrigation, cold-chain systems and food manufacturing to boost value addition.
Dr Nchemba also highlighted opportunities in infrastructure development, including ports, railways, highways, airports and energy systems, noting that Tanzania’s growing connectivity is strengthening its role as a regional logistics gateway.
He said French expertise in engineering, transport systems, renewable energy, urban mobility and infrastructure concessions was well aligned with Tanzania’s development priorities. The mining sector was also identified as a key area for cooperation, with Tanzania seeking investment in value addition and processing of minerals, including critical resources such as graphite, lithium and rare earth elements, alongside gold, diamonds and tanzanite.
Dr Nchemba further pointed to opportunities in the blue economy, citing Tanzania’s Indian Ocean coastline as a platform for investment in fisheries, aquaculture, maritime transport, port services and ocean-based industries.
He also underscored the importance of Tanzania’s young population, noting strong potential in digital technology, artificial intelligence, fintech, innovation ecosystems and skills development, where French expertise could complement local talent.
He said Tanzania’s investment climate is supported by political stability, predictable policies and strengthened institutions, including the Tanzania Investment and Special Economic Zones Authority (TISEZA), which provides a one-stop facilitation centre for investors.
He added that investors benefit from legal protections, including guarantees on profit repatriation and access to international arbitration mechanisms. Commending institutions such as the French–Tanzanian Chamber of Commerce, Dr Nchemba said they play a vital role in converting dialogue into tangible investment outcomes.
He said Tanzania offers not only access to a market of more than 70 million people, but also a strategic base for regional and global value chains across Africa.
“Tanzania offers peace, stability, strategic geography, abundant resources and a young workforce. These are complementary strengths that create exceptional opportunities for shared prosperity,” he said.
