Tanzania aims to attract at least US$50 billion in investment capital and create eight million jobs by 2030 as it rolls out a new national investment drive aligned with Vision 2050, authorities said.
The strategy, which will guide investment decisions over the next five years, places strong emphasis on youth empowerment, industrialisation and export-led growth, Minister of State in the President’s Office for Planning and Investment Kitila Mkumbo said in Dar es Salaam.
“The direction we are taking is to ensure that every major investment contributes meaningfully to employment creation, export growth and sustainable economic transformation,” Mkumbo said.
He said projects will be prioritised based on their ability to generate large-scale employment, boost exports, stimulate linkages across sectors, enhance value addition and increase government revenue.
“These criteria will help us focus on investments that not only grow the economy but also improve the livelihoods of Tanzanians,” he said.
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The government has identified several priority sectors to anchor economic transformation, including agriculture and agro-processing, manufacturing of essential consumer goods, livestock, fisheries and aquaculture, tourism, construction, mining, financial services, forestry and energy, including oil and gas.
Special focus will be placed on boosting domestic production of strategic goods that Tanzania currently imports in large volumes, notably pharmaceuticals and medical supplies, edible oils and wheat, Mkumbo said.
“Our aim is to reduce import dependence by encouraging local production of essential goods,” he said, adding that the government would actively support investment in cooking oil processing plants, seed multiplication centres for oil crops and large-scale sunflower and wheat farming.
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Youth empowerment will form a central pillar of the investment agenda, with plans underway to establish a Youth Investors Resource Centre to provide targeted support to young entrepreneurs.
“Youth are the backbone of our economy, and we want to ensure they are fully empowered to participate meaningfully in investment and industrial development,” Mkumbo said.
A nationwide programme will also be launched to enable university and technical college graduates to design and establish industrial ventures. The initiative will offer training, facilitate access to land, link young investors with machinery and raw material suppliers and connect them to financial institutions.
The programme will be implemented in collaboration with the Tanzania Investment and Special Economic Zones Authority (TISEZA), alongside local lenders including Azania Bank, TCB and CRDB. Designated areas for youth-led investments have been set aside in Dodoma, the Coast Region, Mara, Ruvuma and Bagamoyo.
Mkumbo said both the Youth Investors Resource Centre and the graduate investment programme would be launched before the end of the year. He added that investment facilitation services would be decentralised to all regions by 2028, in line with a directive from President Samia Suluhu Hassan to bring services closer to communities.
“Each region will have a dedicated centre to promote and support investors,” he said.
In parallel, the government plans to expand industrial infrastructure through public-private partnerships, with TISEZA working with the private sector to build industrial sheds that will be rented to local manufacturers at affordable rates.
Preparations are also at an advanced stage for the launch of a new National Strategy for Improving the Business and Investment Climate, known as MKUMBI II, which is expected to be unveiled ahead of the implementation of Vision 2050 in July 2026.
