Tanzania and Turkish company IC & Holding have held discussions on strategic investment opportunities in infrastructure and industrial development. The talks aimed to stimulate economic growth through Public-Private Partnerships (PPPs). Minister for Finance, Ambassador Khamis Mussa Omar, met with IC & Holding's management on the sidelines of the 31st Conference of the Parties to the United Nations Framework Convention on Climate Change (COP31) in Antalya, Türkiye.
The discussions focused on leveraging Turkish companies' expertise to develop strategic projects in Tanzania, particularly through the PPP framework. Industrial development was a key area of discussion, with IC & Holding highlighting Türkiye's 50-year experience in managing and developing industrial zones. The company noted that this model could be adapted to Tanzania's local conditions to drive economic growth and national development.
Infrastructure investment opportunities in the mining, agriculture, water, and energy sectors were also explored, with a focus on transport infrastructure. Six roads in Tanzania have been earmarked for development under the PPP framework, with two projects having undergone detailed studies. Site visits are planned to further assess the investment opportunities.
Ambassador Omar emphasized that Tanzania is a strong and secure investment destination in the region. He reaffirmed the government's commitment to working with investors to implement projects contributing to national economic growth. The two sides agreed to continue discussions involving relevant sectoral ministries and the company to identify areas of cooperation.
IC & Holding, established in 1969, is an international company with operations in various parts of the world. The company focuses on infrastructure development, energy, tourism, and construction. Deputy Permanent Secretary in the Ministry of Finance, Asha Khamis Abdulla, and Commissioner for External Finance, Rished Bade, were also present at the meeting.
The parties will conduct visits to proposed project sites to obtain further information and assess the investment opportunities. This will enable them to identify potential areas of cooperation and develop a framework for implementation. The meetings are seen as a significant step towards strengthening economic ties between Tanzania and Türkiye.
The discussions between Tanzania and IC & Holding reflect the government's efforts to attract foreign investment and stimulate economic growth. The PPP framework is expected to play a crucial role in driving development in key sectors. Key points include:
Key points
- The two sides explored ways to leverage Turkish companies' expertise in developing strategic projects in Tanzania.
- Six roads in Tanzania have been earmarked for development under the PPP framework.
- The parties agreed to continue discussions to identify areas of cooperation and conduct site visits to proposed project sites.
