Singapore investors seek bigger footprint in Tanzania

DAR ES SALAAM : Fifteen Singaporean companies have landed in the country, marking a coordinated push to turn decades of strong diplomatic ties into major trade and investment deals across the country and the wider East African Community market. Speaking at the Tanzania-Singapore Business Forum in Dar es Salaam on Tuesday, Singapore Business Federation (SBF) Vice Chairman Mark Lee said the main goal is to convert longstanding diplomatic relations into meaningful commercial partnerships that deliver mutual economic benefits. “Our goal is to turn good political relations into real business outcomes that create value for both countries,” he said. Mr Lee noted that since 1997, Singapore has implemented 36 investment projects in Tanzania worth more than US$500 million, creating over 3,000 jobs for Tanzanians. Despite this progress, he said significant untapped potential remains for deeper cooperation between the two countries. He described the visit by the Singaporean business delegation as an important first step toward expanding partnerships in strategic sectors, including industrial infrastructure, transport and logistics, commodity trading, agriculture, technology, and business services. According to Mr Lee, Tanzania’s strategic location, growing economy, and access to the East African market make it an attractive destination for Singaporean investors seeking long-term growth opportunities. He emphasised that Singaporean businesses are not only interested in generating profits but also in building sustainable partnerships that contribute to economic development in both countries. “We have not come simply to reap profits, but to work together in building economies that benefit both sides,” he said. The forum was held as part of the state visit of Singapore President Tharman Shanmugaratnam and reflects growing efforts by both countries to strengthen economic cooperation, attract investment, and create new opportunities for businesses operating in Africa and Asia. The post Singapore investors seek bigger footprint in Tanzania first appeared on Daily News . The post Singapore investors seek bigger footprint in Tanzania appeared first on Daily News .