Tanzania’s President, Samia Suluhu Hassan has revealed plans to attract $15 billion in annual foreign direct investment (FDI) by 2025, a substantial rise from the $2 billion recorded in 2020.
Speaking at a business forum in India, President Samia highlighted the country’s ongoing efforts, touting Africa’s most forward-thinking economic reforms and placing significant emphasis on the private sector and investments as crucial growth drivers.
“From a mere $2 billion in FDI in 2020, we’ve risen to $5 billion by June 2023,” she noted, underscoring the nation’s success in improving its business environment and the implementation of tech solutions to ease foreign investors’ entry into the Tanzanian market.
This new FDI target aligns with the government’s aim to utilize the private sector and foreign investments as vital drivers of economic growth.
