The government has extended an invitation to Russian investors to explore opportunities in Tanzania’s strategic sectors, including natural gas, mobile phone manufacturing, and digital technology, as part of broader efforts to industrialise the economy and deepen bilateral trade.
Speaking at the Russia Day celebrations during the 49th Dar es Salaam International Trade Fair (DITF), the Executive Secretary of the Tanzania National Business Council (TNBC), Dr Godwill Wanga, said Tanzania is actively seeking foreign partners to harness its economic potential.
“Tanzania is rich in natural gas resources that are underutilised. We want to collaborate with experienced Russian companies to develop this sector for power generation and industrial processing,” said Dr Wanga.
Despite having more than 80,000 registered factories, only 57 are currently utilising natural gas for power and other industrial use. Additionally, just 5,000 vehicles are powered by Compressed Natural Gas (CNG), and only 1,500 households are connected to piped gas for cooking.
“Russia has global energy giants with the expertise and track record we need. We’re open to partnerships that will lead to shared prosperity,” he said.
Dr Wanga also underscored the importance of local mobile phone assembly as Tanzania embarks on a decade-long digital transformation journey.
The government, he said, is offering tax and non-tax incentives to attract manufacturers to establish operations locally.
“With increasing demand for digital tools, establishing a mobile phone assembly plant is a strategic necessity. We are ready to support investors in this space,” he said.
He noted that the country’s investment climate has improved, supported by stable macroeconomic indicators, regulatory reforms through the Blueprint for Regulatory Reforms, and consistent fiscal and monetary policies.
“Inflation, tax, and interest rates have remained stable, and the government remains committed to ensuring predictability for investors,” Dr Wanga added.
Despite more than five decades of diplomatic ties, trade between the two countries remains low. Imports from Russia average around $2.26 billion annually, consisting of wheat, chemicals, machines, and mineral water, while Tanzania’s exports to Russia stand at just $5.8 million.
“We need to scale up our trade volumes. There’s a lot of untapped potential, and Tanzania is determined to explore and expand areas of cooperation,” he said.
Other sectors identified as ripe for Russian investment include value addition in agriculture, industrial processing, and tourism.
On his part, Russia’s representative in Tanzania, Nikita Rassokhih, called for the institutionalisation of Russia Day at Sabasaba, noting its importance in fostering trade dialogue.
“This celebration brings together business communities from both countries. Russia is also ready to support Tanzania’s Vision 2050,” he said.
Meanwhile, TanTrade’s Lulu Mkude reaffirmed the agency’s commitment to supporting international cooperation and investment promotion.
“This year’s DITF has drawn over 5,000 participants from 23 countries. We encourage Russian delegates to engage with local businesses and explore opportunities across sectors,” she said.
The outreach to Russian investors aligns with Tanzania’s broader economic agenda to build a more inclusive and diversified economy through industrial growth, technological advancement, and foreign investment.