The EU Business Forum 2023 in Tanzania is tailored for selected entities and participants who will benefit from direct meetings between businesses (B2B), financial institutions (B2F) and government actors (B2G).
Tanzania is one of Africa’s 10 fastest growing economies. This growth reflects the country’s sustained economic stability amidst rich natural endowments and a strategic geographic location.
The European Union (EU) Delegation to Tanzania and the East African Community (EAC), together with the Ministry of Investment, Industry and Trade and the Tanzania Investment Center (TIC), opened the EU-Tanzania Business Forum held on February 23 and 24, 2023 in Dar es Salaam. The Forum aims to present to EU businesses and investors the opportunities and comparative advantages of Tanzania as a strategic destination for direct investment.
The Forum was attended by H.E. Manfredo Fanti, EU Ambassador to Tanzania and the EAC, and Mafutah Bunini, Acting Executive Director of TIC, who worked to ensure effective communication on the vast opportunities in the African country.
The EU-Tanzania Business Forum 2023 attracted high-level participation from Europe and Tanzania, including political leaders, heads of international financial institutions, executives of major companies and prominent business delegates. About 600 participants interested in investing and/or expanding their business in Tanzania in the energy transition, agriculture, manufacturing, logistics, digital connectivity, and construction sectors gathered for the two-day event.
To ensure the success of the Business Forum, the EU and the Government of Tanzania involved various stakeholders from the private sector in Tanzania and Europe, financial institutions, and other experts. The objectives are: to present Tanzania’s opportunities and comparative advantages to EU investors; and to facilitate discussions among business, government officials and political leaders from both Tanzania and Europe to catalyze new partnerships. In addition, the Forum aims to present tools for private investment (registration, work permits, rules of origin) and private sector development (access to finance, connectivity, skills development); and to provide a platform for public-private dialogue to further improve the business environment.
“The EU-Tanzania Business Forum should be seen in the context of the EU’s longstanding commitment to support private sector development and investment in Tanzania. It will be a very visible event on which we will build, taking the opportunity of the government’s commitment to improve the legal and administrative framework for business, a prerequisite for attracting foreign direct investment.” H.E. Manfredo Fanti, Ambassador of the European Union to Tanzania and the EAC, said.
“This first EU-Tanzania business forum is a testament to the government’s continued efforts to open up our economy by improving the business climate and ongoing strategic reforms. This forum offers Tanzania a great opportunity to welcome European investment, technology and expertise to our country. It is part of our ongoing efforts to attract business and investment from around the world in key sectors such as renewable energy, critical mineral extraction, sustainable agriculture, etc. We hope to sign several investment agreements that will bring additional employment to our youth and help maintain our status as a middle-income country,” said Maftah Bunini, Director of Planning, Research and Information Technology at the Tanzania Investment Center (TIC).