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President Samia invites Norwegian investors to Tanzania


Oslo, 14 February 2024 (TDI): Samia Suluhu Hassan, President of Tanzania delivered an important address to Norwegian investors in Oslo, and outlined the significant advantages of investing in Tanzania. She underscored the crucial reasons why Tanzania stands out as an ideal investment destination.

During a speech to Tanzanian and Norwegian businessmen and investors in Oslo, she highlighted the importance of collaboration in transitioning towards sustainable energy sources. She also highlighted the potential advantages for both developing and developed countries. 

Furthermore, her remarks reflect a forward-thinking approach to addressing global environmental challenges while fostering economic growth and cooperation.

She emphasized the importance of a strategic partnership that uses the strengths and resources of everyone involved. Furthermore, she added that through this way, they can speed up progress towards a cleaner environment while also boosting economic growth and making sure everyone benefits.

In her attraction with Norwegian investors, she invited all investors to explore opportunities in Tanzania. She expressed her desire to capitalize on the nation’s growing economy and strategic advantages, including its political stability, geographic location, and burgeoning industries.

In addition, she talked about the political stability of Tanzania. During her speech, she mentioned that Tanzania follows a democratic system with many political parties. She also cleared that the country is committed to good governance, human rights, and following the law.

Moreover, she underscores the special geographical advantages of Tanzania i.e. important ports like Dar es Salaam, Mtwara, and Tanga. These ports are like doors to many nearby African countries. Neighboring countries like the Democratic Republic of Congo, Zambia, Malawi, Uganda, Rwanda, Burundi, and partly Mozambique and Zimbabwe also use Tanzania’s seaports.

She also highlighted the strong economy of the country and expected increases in the GDP growth rate of over six percent next year, similar to before Covid-19.

Hassan outlined five key sectors ripe with investment opportunities. These sectors include renewable energy, agriculture, oil and gas, investment funds, and infrastructure and transportation.

Also Read: Denmark reverses decision to close embassy in Tanzania

Development Partnership

While acknowledging the lack of exact trade data between the two countries, Hassan noted that Tanzania remains one of Norway’s 10 main partners for long-term development.

Norway focuses on helping Tanzania develop its private businesses, improve renewable energy, manage petroleum, increase revenue through better financial management. Additionally, they are collaborating to address environmental concerns, including climate change, in Tanzania.

Idrees Khan
Idrees Khan
Muhammad Idrees Khan is an undergraduate student pursuing a BS in Peace and Conflict Studies at the National Defence University Islamabad (NDU). He is passionate about analyzing global conflicts and understanding diplomatic strategies for peace-building. He actively engages in discussions on state security, international diplomacy, and conflict resolution. The writer can be reached at idreesbhittani123@gmail.com

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