GOVERNMENT STRENGTHENS INVESTMENT COORDINATION, UNVEILS MAJOR REFORMS TOWARDS A COMPETITIVE ECONOMY





The Minister of State in the President’s Office – Planning and Investment, Prof. Kitila Mkumbo, has announced that the government has strengthened investment coordination through the Land Bank, which now comprises 13 strategic areas—four owned by local government authorities and the rest developed in partnership with the private sector.


This move has significantly reduced challenges related to land acquisition for investors, while the government continues to encourage citizens to provide land through authorized institutions so it can be integrated with modern capital and technology.


Prof. Mkumbo revealed that beginning January, the government will launch the National Investment Forum, a platform that will convene every three months to address investor concerns and accelerate decision-making processes that promote investment in the country.


Speaking today in Dar es Salaam, the minister said that over the next five years, investment projects will be selected based on five key criteria: the ability to create large numbers of jobs, increase export volumes, stimulate other sectors of the economy, enhance value addition to Tanzanian products, and increase government revenue.


He explained that priority will be given to agricultural production, agro-processing, value-adding industries, and sectors capable of reducing dependence on imported goods—measures aimed at strengthening the domestic economy and improving the competitiveness of Tanzanian products in global markets.


Prof. Mkumbo noted that the government has already identified key products that drain the country’s foreign exchange earnings, including cooking oil, wheat, furniture, and various industrial goods.


He added that the sugar sector is expected to achieve self-sufficiency starting next year, alongside ongoing efforts to expand sunflower farms and build processing plants for edible oil.


The government is also strengthening contractual arrangements between farmers and factories to ensure a reliable supply of raw materials. The wheat, livestock, and modern fishing sectors—including the construction of the Kilwa fishing port—together with tourism, continue to be prioritized to boost production and government revenue.


He further stated that the government is implementing an urban renewal program in partnership with the private sector to develop new housing estates, commercial buildings, and conference facilities aimed at improving urban environments and expanding investment opportunities.


Meanwhile, the LNG project—valued at more than USD 40 billion—is expected to position Tanzania as a regional energy hub and enhance the nation’s competitiveness in international markets.


The government is also advancing industrial development through special economic zones and reforming mineral sector policies to ensure that value addition to minerals takes place within the country.


Regarding youth employment, Prof. Mkumbo highlighted the establishment of a Special Youth Investment Center in Mabibo, which will offer training in business skills, economics, and industrial entrepreneurship.


Through this program, youth will be supported in designing industrial projects, registering companies, connecting with investors, and obtaining land in special economic zones in Dodoma, Pwani, Mara, Ruvuma, and Bagamoyo. In addition, banks and major investors will provide industrial sheds for trained youth to enable them to own small factories and begin production immediately.


To expand access to investment services, the government is decentralizing the Tanzania Investment Centre (TIC) and special economic zone authorities by opening offices in every region—making it easier to obtain permits, registrations, and other services without traveling to Dar es Salaam or Dodoma.


The government is also finalizing a new strategy to replace the Blueprint 2018, which will introduce a performance-based competition framework for local government authorities based on their ability to attract investment and establish economic hubs.


On public enterprise reforms, Prof. Mkumbo said the government plans to increase transparency and efficiency by listing selected state-owned enterprises on the stock exchange to enable citizens to buy shares and participate in ownership.


He added that the appointment of top executives and board members will be conducted competitively to enhance professionalism and accountability, while a dedicated funding mechanism will be established to boost public investment capital.


By the year 2030, the government aims to create at least eight million jobs, attract more than USD 50 billion in investment, and ensure that every ministry and institution implements clear performance indicators to accelerate the success of the country’s new development vision.

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