Tanzanian Businessman Calls for Prioritizing Local Investors in National Development Strategy
In a compelling statement that could reshape Tanzania’s economic policy, a prominent business leader has urged the government to place local investors at the forefront of the country’s development agenda.
The industry expert emphasizes that while foreign investment plays a crucial role, sustainable national growth fundamentally depends on empowering domestic businesses. “Every country needs foreign investors, but real nation-building happens when local investors are given priority,” the business leader explained.
He highlighted a sophisticated approach to investment, suggesting structured frameworks where certain strategic sectors are deliberately allocated between foreign and domestic investors. For highly technical projects like offshore natural gas extraction, he acknowledged the need for international expertise, but proposed compelling alternatives.
“For complex projects beyond current national capabilities, foreign companies should be encouraged to form joint ventures with local investors,” the business leader recommended. This approach would ensure knowledge transfer and gradual capacity building for Tanzanian businesses.
Particularly focusing on infrastructure development, the expert advocated for preferential treatment of local investors in government tenders, especially for road and bridge construction. “If we don’t prioritize our own investors, we risk watching all the money leave the country,” he stressed.
The proposed strategy aims not just to protect local economic interests, but to develop robust domestic businesses capable of future global competition. By carefully planning investment strategies that balance international expertise with local participation, Tanzania could potentially unlock significant economic growth and sustainable development.
“This issue needs to be examined carefully and planned wisely,” the business leader concluded, signaling a potential paradigm shift in the country’s economic approach.
