Ottawa, Canada: On November 14th, 2024, H.E. Joseph Sokoine had the honor of presenting Tanzania's investment opportunities to the esteemed senior management team of Export Development Canada (EDC) and the Bilateral Development Finance Institute Canada (FinDev Canada).

Export Development Canada strongly supports Canadian Indigenous businesses with an interest in expanding globally. On the other hand, the FinDev Canada is a Canadian bilateral Development Finance Institution that supports the development and inclusive growth of emerging markets and developing economies (EMDEs) through the private sector.

The High Commission's presentation to the EDC and FinDev Canada highlighted specific investment areas in Tanzania that hold great potential for Canadian long-term investment. These areas include agriculture, livestock, fisheries, tourism, pharmaceutical industries, energy (renewable sources), minerals (critical minerals), oil and gas, and infrastructure projects.

In addition, the presentation noted the opportunities for establishing investment banks in Tanzania to supplement the few available, which has been a significant catalyst for increasing investment in the country. The High Commissioner also presented the projects available in the information, communication, and technology (ICTs) sectors, as some of the projects call for joint ventures, and individual companies can solely carry some out. 

In the areas of the projects, the High Commissioner added that there are some projects to be carried out under public-private partnership (PPP) arrangements. The High Commissioner underscored the potential of these PPP arrangements, inviting the Canadian side to explore these opportunities that are integral to the success of these projects, and requested that these two entities study them and see if there is any interest from the Canadian side for further actions.

The High Commissioner wrapped up the presentation with a list of the fiscal and non–fiscal incentives offered to the prospective investors under the coordination of the Tanzania Investment Centre and Zanzibar Investment Promotion Authority. Furthermore, he reassured the audience by touching on the ongoing negotiation between the Government of Canada and the Government of the United Republic of Tanzania on the Agreement on Promotion and Reciprocal Protection of Investments and its importance in our trade–investment relations.