Tanzania has invited Austria to expand investment and business partnerships as the country pushes forward with its long-term economic transformation agenda under the National Development Vision 2050.
Deputy Minister in the President’s Office for Planning and Investment, Pius Chaya, extended the invitation during talks with Austria’s Deputy Foreign Minister for political affairs, Hannah Liko, held in Dar es Salaam on March 23, 2026.
Dr Chaya said Tanzania is keen to deepen its cooperation with Austria to promote trade, investment and sustainable economic growth, taking advantage of the many opportunities emerging under the country’s Vision 2050 development agenda.
He explained that the vision aims to transform Tanzania into a high-income economy driven by industrialisation and valued at about $1 trillion.
According to Dr Chaya, agriculture, tourism, manufacturing, mining and the blue economy have been identified as key sectors expected to drive the country’s economic transformation in the coming decades.
He noted that Tanzania’s strategic location and its access to a regional market of more than 450 million people make the country an attractive destination for investors from Austria and other parts of the world.
Dr Chaya also pointed to Tanzania’s strong economic performance, noting that the country has recorded an average growth rate of about 6.1 percent over the past two decades, an indication of a stable and improving investment environment.
He welcomed Austria’s Africa Strategy, which seeks to expand trade ties and support the growth of small and medium-sized enterprises (SMEs), saying the initiative aligns with Tanzania’s efforts to strengthen private sector development.
For her part, Dr Liko thanked the Tanzanian government for the continued cooperation between the two countries and emphasised the importance of implementing priorities set out in Austria’s Africa Strategy for 2026–2029.
She said the strategy aims to deepen diplomatic and economic relations while creating new opportunities for business partnerships and industrial development.
Data from the Tanzania Investment Special Economic Zones Authority show that by February 2026, a total of 17 investment projects from Austria had been registered in Tanzania.
The projects are valued at about $36.14 million and have created 871 jobs in sectors such as agriculture, manufacturing and energy.
The meeting reflects Tanzania’s ongoing efforts to attract foreign investment and strengthen international partnerships as the country works toward achieving the goals of Vision 2050.
