Prime Minister Dr. Mwigulu Nchemba has called on French businesses to expand their investments in Tanzania, saying the country's stable political environment, strategic location and investor-friendly policies make it one of Africa's most promising destinations for long-term business.
Addressing the Tanzania-France Business Roundtable at the Tanzanian Embassy in Paris on Monday, Dr. Nchemba said increased French investment would not only create jobs and transfer technology but also support Tanzania's drive towards industrialisation while generating mutual economic benefits for both countries.
His remarks came as the Tanzania Private Sector Foundation (TPSF) and the International Chamber of Commerce (ICC) signed a Memorandum of Understanding (MoU) aimed at strengthening business cooperation between Tanzania and France.
"Today's agreement is more than a formal document. It is a bridge to greater economic cooperation and future prosperity," Dr. Nchemba told business leaders and government officials attending the forum.
He urged French companies to take advantage of the opportunities available in Tanzania, arguing that investments made today would position them as key partners in one of Africa's fastest-growing economies.
"Those who invest in Tanzania now will not only participate in our economic transformation but will also become valuable partners in building one of the continent's most competitive economies for generations to come," he said.
The Prime Minister highlighted France's global expertise in technology, engineering, energy, infrastructure, manufacturing, finance and healthcare, saying these strengths complement Tanzania's competitive advantages, including abundant natural resources, a strategic geographical position, macroeconomic stability and a young, expanding labour force.
He said the combination creates significant opportunities for sustainable investment and long-term commercial partnerships.
Dr. Nchemba also reaffirmed the government's commitment to maintaining a predictable and transparent investment climate as Tanzania embarks on implementing the National Development Vision 2050.
"Our government will continue to ensure a business-friendly environment where investments are protected, partnerships are valued and success benefits all stakeholders," he said.
The Prime Minister witnessed the signing of the MoU between TPSF Chief Executive Officer Deo Massawe and ICC Deputy Secretary-General Julian Kassum, a deal expected to deepen engagement between businesses from the two countries.
Earlier, Minister for Foreign Affairs and East African Cooperation Ambassador Mahmoud Thabit Kombo said the agreement supports the objectives of Tanzania's National Development Vision 2050, which places the private sector at the centre of economic transformation by targeting a 70 per cent contribution to national development.
TPSF President Angelina Ngalula described Tanzania as a strategic gateway to Africa, saying the country is well positioned to become a regional hub for economic growth under the leadership of President Samia Suluhu Hassan.
She noted that while France has long been an important investment partner, the next phase of cooperation should focus on technology transfer, tourism, financial services and the digital economy.
"TPSF stands ready to facilitate stronger partnerships between Tanzanian and French businesses and help unlock new investment opportunities," she said.
The forum attracted representatives from leading French companies operating in renewable energy, transport, water, construction, manufacturing, environmental services, aquaculture, satellite communications, broadband technology, maritime and aviation services, as well as specialised oil and gas engineering.
Also attending were Minister for Minerals Anthony Mavunde, Minister for Energy Deogratius Ndejembi, Tanzania's Ambassador to France and Permanent Delegate to UNESCO Ambassador Saidi Othman Yakubu, MEDEF International Chief Executive Officer Philippe Gautier, France-East Africa Business Council President Celine Gouveia, senior private sector executives from Tanzania and a delegation of French investors.
The business forum formed part of broader efforts by the Tanzanian government to strengthen economic diplomacy and attract high-quality foreign direct investment to support the country's industrialisation agenda and the implementation of Vision 2050.
