At the Business Forum held in Oslo, President Samia Suluhu Hassan of the United Republic of Tanzania showcased Tanzania's promising economic outlook and investment opportunities to a gathering of Tanzanian traders and Norwegian investors.
During her address, President Samia highlighted projections by the International Monetary Fund (IMF) suggesting Tanzania's ascent among the top 20 fastest-growing economies globally in 2024. She underscored this as a prime opportunity for Norwegian investors to explore Tanzania's conducive political, geographical, and economic landscapes.
President Samia lauded the peaceful political environment in Tanzania, characterized by a robust democracy and a multi-party system grounded in principles of good governance, human rights, and the rule of law. Geographically, Tanzania boasts the strategic Port of Dar es Salaam, serving as a vital hub for trade across eight African nations bordering the Indian Ocean.
Economically, President Samia pointed to Tanzania's sound economic policies and financial stability, with GDP growth rebounding to 5.2% annually. Projections indicate a further increase to over 6% per annum in the coming years, reverting to pre-COVID levels.
The President emphasized five key investment priorities, including alternative energy, agriculture, oil and gas, investment funds, infrastructure, and transportation, as areas ripe for exploration by both Tanzanian and Norwegian investors.
President Samia's visit to Norway follows a historic trip to the Vatican, where she engaged in discussions with Pope Francis, the leader of the Catholic Church, prior to embarking on her two-day National visit to Norway.
The Business Forum serves as a platform for fostering bilateral trade relations and exploring avenues for mutually beneficial economic partnerships between Tanzania and Norway, reflecting a shared commitment to sustainable economic growth and development.
President Samia's address underscores Tanzania's emergence as a promising investment destination, offering lucrative opportunities for foreign investors keen on contributing to the nation's continued economic prosperity and development.