Belgian investors explore opportunities in Tanzania

Dar es Salaam. A delegation of 40 business investors from Belgium is in Tanzania to explore investment opportunities in agriculture, livestock, fisheries, and industrial sectors.

The delegation, which arrived on November 23 and will remain until November 28, is part of an initiative organized by the Tanzania Investment Centre (TIC) and the Belgian Embassy to foster stronger economic ties between the two nations.

Speaking during the opening of the Tanzania-Belgium Business Meeting on Monday, November 25, the Minister for Industry and Trade, Dr Suleiman Jafo, said the event would strengthen bilateral relations and showcase Tanzania’s investment potential.

He said trade between Tanzania and Belgium has been on the growth trajectory, with Tanzanian exports reaching over $186 million while Belgian exports to Tanzania stand at $115 million. “This shows we are making significant progress,” he said.

He added that Tanzania mainly exports agricultural products such as coffee, tea, and minerals to Belgium. The meeting, he said, is an avenue for local businesses to explore ways to expand their exports and partnerships.

“The government is committed to supporting agriculture by increasing budget allocations and helping farmers add value to their products. This will ensure we capitalize on export opportunities and further strengthen our trade ties,” Dr Jafo said.

Tanzania’s Ambassador to Belgium, Mr Jestas Nyamanga, emphasized Belgium’s active role in Tanzania’s economy, with investments exceeding $430 million in mining, agriculture, logistics, and hospitality.

“Belgium is one of the few EU countries with which Tanzania has a strong trade relationship. Annually, we export over €185 million worth of agricultural and mining products, and there is potential to increase this, especially in fisheries,” Mr Nyamanga said.

The meeting attracted over 300 local businesspeople eager to explore opportunities with Belgian counterparts. On Tuesday, the delegation is set to visit the Dar es Salaam port to witness its ongoing developments and assess opportunities in logistics and trade.

TIC’s Acting Director for Investment Promotion, Mr Daudi Riganda, revealed that 48 Belgian projects worth $2 million had been registered in Tanzania by October this year, creating over 2,000 jobs.

“We aim to increase this number significantly after this meeting. Over the past 20 years, Belgian investment projects have been relatively few, and we hope this visit will boost these figures and foster economic growth,” Mr Riganda said.

Belgium’s Ambassador to Tanzania, Mr Peter Huyghebaert, praised the strong turnout of local businesspeople. “I am pleased to see such enthusiastic participation from Tanzanian businesses. It’s a promising start to what we hope will be a fruitful collaboration,” he said.

With contracts expected to be signed and new projects launched, this visit marks a pivotal moment in Tanzania-Belgium relations, further solidifying their partnership in economic development.