Tanzania starts charm offensive to lure investors in mining sector
Tanzania’s ministry of mining has started charm offensive to lure foreign investors in it’s nascent mining sector.
Dr. Doto Biteko, the Tanzanian Minister for Minerals said on Thursday during the ongoing mining conference in South Africa’s Cape Town that they are reaching to potential investors to attend the 2023 mining and investment forum.
“We look forward to making ground-breaking announcements, hosting bilateral and investor meetings, showcasing project development opportunities,” Biteko said.
The forum is slated to take place from 25th – 26th October 2023 at the Julius Nyerere International Convention Centre in Dar es Salaam city.
“We look forward to meeting you in Dar es Salaam as Tanzania is now placed in the high ranking African groups in attracting foreign direct investment,” Biteko said.
He said the investment forum is expected to attract over 2,000 global attendees from over 25 countries.
This year’s forum will have a strong focus on global mining investments, including new projects and partnerships, technologies, regulations and financing. In addition, new topical subjects such as environmental, social and governance policies, strategic mineral developments, sustainable mining, and local content will also be at the center of the discussion,” Biteko said.
Biteko said the mining sector’s contribution to the Gross Domestic Product (GDP) of Tanzania has been increasing yearly.
For example, he said in the year 2020/2021 the mineral sector contribution to GDP rose to 7.2 percent from 6.7 percent in 2019/2020.
Biteko said that the mining sector has become the economy’s leading foreign exchange earner.
“Under the leadership of Her Excellency Dr. Samia Suluhu Hassan, President of the United Republic of Tanzania, the government has been focusing on ensuring the mining sector contributes at least 10 percent of the GDP by 2025,” he said.
Biteko said that to realize this target the Tanzanian government will have to engage the international community to mobilize capital and investment in the mining sector.
