Government and Private Sector Sign Joint Declaration to Implement Tanzania Vision 2050 and Accelerate Investment Growth

The Government of Tanzania and the private sector have launched the implementation framework for Development Vision 2050 (DTV 20250), with both sides committing to strengthen cooperation in increasing investment, expanding production, creating jobs, and supporting economic transformation over the next 25 years.

The framework was launched on 3 August 2026 during a special Government-private sector dialogue chaired by President Samia Suluhu Hassan at State House in Dar es Salaam.

The meeting brought together government officials and representatives from business associations to discuss the role of the private sector in implementing Vision 2050, which aims to transform Tanzania into a high-income economy and build a USD 1 trillion economy by 2050.

During the event, President Samia launched four implementation tools for Vision 2050, including the National Long-Term Perspective Plan (LTPP), the Fourth Five-Year Development Plan, the national framework for assessing outcomes and implementation of development plans by the public and private sectors, and the Vision 2050 Communication Strategy.

President Samia said the successful implementation of Vision 2050 would depend on cooperation between the Government and businesses, with the private sector expected to lead approximately 70% of implementation activities over the next 25 years.

“It is therefore my expectation that, in this important development journey, the private sector will play a major role in increasing investment in the country, ” President Samia said.

The President said the Government would continue improving the legal, policy and institutional environment to attract domestic and foreign investment, while businesses were expected to increase production, create employment opportunities, promote innovation and expand into regional and international markets.

She also called for stronger links between large and small enterprises, formal and informal businesses, and domestic and foreign investors to ensure that economic growth benefits a wider section of society.

President Samia encouraged investment that develops local skills and creates opportunities for youth, women and people with disabilities to participate in private sector value chains.

The government and private sector also signed a Joint Declaration on the implementation of Vision 2050, committing both sides to closer cooperation in achieving the country’s long-term development objectives.

According to reports from the private sector dialogue, the commitments under the declaration include improving the business and investment environment, maintaining economic stability, strengthening infrastructure, developing human capital, increasing investment, creating jobs, supporting industrialisation, promoting innovation and expanding exports.

President Samia called on the 11 business and investment organisations that signed the declaration to ensure their members understand and implement the commitments.

She said continuous dialogue and accountability between the Government and private sector would be required to achieve the objectives of Vision 2050.

The Minister of State in the President’s Office – Planning and Investment, Prof. Kitila Mkumbo, said reforms implemented in the business environment had improved investor confidence and strengthened Tanzania’s position in attracting capital.

He highlighted growth in investment in technology start-ups, financial services, agriculture and clean energy as areas showing increased opportunities for private sector participation.

Prof. Mkumbo said Tanzania was also adapting to changes in global financing conditions, including the decline of concessional loans and development assistance, making private investment and domestic resource mobilisation increasingly important in financing development.

The Tanzania Private Sector Federation (TPSF) Chairperson, Angelina Ngalula, welcomed the increased role given to businesses in implementing Vision 2050 and called for stronger accountability mechanisms, policy predictability and continued consultation between Government and the private sector.

She said the private sector should move beyond participation in consultations and become an active implementation partner in achieving the country’s development objectives.

Private sector representatives also highlighted challenges that could affect implementation, including delayed government payments, limited capacity of domestic companies to undertake large projects, and the need for stronger participation of Tanzanian businesses in major investments.

For his part, the President of Zanzibar said the archipelago would continue cooperating with the Union Government in implementing Vision 2050.

He identified the blue economy, tourism, manufacturing, modern agriculture, digital economy, financial services, and human capital development as key areas for investment and cooperation between government and businesses.