Tanzania Aims to Attract $3 Billion in Indian Foreign Direct Investment by 2025

11 Oct, 2023

Tanzania Aims to Attract $3 Billion in Indian Foreign Direct Investment by 2025

Tanzanian President, Samia Suluhu Hassan, declared a significant economic ambition during her visit to India. Speaking at the India-Tanzania Business Investment Forum in New Delhi on October 10, she revealed that Tanzania has set a goal to attract $3 billion in Foreign Direct Investment (FDI) from India by the end of 2025.

Hassan emphasized that Zanzibar, a semi-autonomous region within Tanzania, has established a dedicated desk to facilitate the involvement of Indian individuals and businesses. This initiative aims to streamline the FDI inflow from India, ultimately working towards the ambitious $3 billion target.

The Tanzanian President's visit to India has a broader objective of strengthening bilateral relations between the two nations. To this end, six Memorandums of Understanding (MoUs) were signed across various sectors, including communications, maritime security, sports, and other key areas. These agreements are expected to further bolster trade and cooperation between Tanzania and India.

Tanzania's pursuit of $3 billion in FDI from India by 2025 reflects a growing trend of collaboration between the two countries. President Samia Suluhu Hassan's visit to India and the signing of multiple MoUs underscore the commitment of both nations to fostering economic and diplomatic ties in the coming years.