The United Republic of Tanzania



Representatives from 20 Companies from the Federal State of Bavaria German have visited Tanzania to scout for Tanzania priority sectors investment opportunities in energy, manufacturing, agriculture, Oil and Gas, mining, education, construction and other business and investment opportunities available in the country. The United Republic of Tanzania has seen a remarkable economic development in the last years, with an average GDP growth of around 7% for the last ten years and this could be a platform to foster business to business relations between the two countries.

Soon after he was sworn in, HE. President Dr. John Pombe Magufuli declared industrialization as the main agenda for his government. He stated firmly that his government aims at building an industry- driven economy. It is now two years down the lane since the head of state announced his focus on building the country’ economy.

TIC Executive Director Mr. Geoffrey Mwambe said “We are gratefully honored to host the German delegation from Bavaria, the German companies have shown highest level of commitment to invest in Tanzania and this highlights the highest level of confidence in our government policies”. The TIC Executive Director added that this delegation is just one step towards engaging German companies in realizing our national agenda for industrialization.

German is our “natural partner” in fostering and developing ever closer business relations with German we would like to continue to cooperate with its private sector organizations. It is our firm intention to further deepen the close relationship between the German companies and the Tanzanian private sector for better economic growth and sustainable development. Mr. Mwambe added

The head of German delegation Ulrich Konstantin Rieger, also explained about Tanzania and German long history and how the delegation would strengthen the relationship with the Tanzanian companies. He said the German investors are much more interested with the long-term investments and they have a huge support from Dutch banks. Business relations form a central part of relations between United Republic of Tanzania and Germany. With an overall German projects registered at TIC being 157 with the value of 324m USD which intends to create 14,324 jobs for Tanzanians.

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