On September 30, 2022, at the Italy-Tanzania Business and Investment Forum held at the Julius Nyerere International Convention Center, Ms. Angelina Ngalula, Chairperson of the Tanzania Private Sector Foundation (TPSF), addressed the private sector community from Tanzania and Italy (JNICC).
Hon. Dr. Ashatu Kijaji, Tanzania’s Minister of Investment, Industry, and Trade, was the guest of honor at this business and investment forum, which was organized by the Italian Embassy in Tanzania in collaboration with the Italian Trade Agency (ITA), and the Tanzania Ministry of Foreign Affairs and East Africa Cooperation. As a member of the organizing committee, TPSF was also there.
Along with H.E. Amb. Mahmoud Thabit Kombo, Tanzania’s ambassador to Italy, and other attendees including H.E. Amb. Marco Lombardi, the Italian ambassador to Tanzania, and Mr. Paul Koyi, the president of the TCCIA, Government officials and the business community from Italy and Tanzania.
Ms. Angelina Ngalula in her opening remarks, extended her appreciation to Hon. Minister Ashatu Kijaji, for her time and commitment to ensuring Tanzania becomes an attractive destination for trade and investment. Also, she applauded the Ambassadors for Italy and Tanzania by acknowledging their efforts in boosting Tanzania-Italia relations.
In her speech, Ms. Ngalula mentioned how the Ukraine-Russia war has upended the fragile economic recovery from the covid-19 pandemic, triggering a devastating humanitarian crisis in Europe, increasing food and commodity prices globally, intensifying inflationary pressures, and breaking critical and traditional supply chains.
“As the world recovers, we note that Italy has been one of our most important trading partners and through our cooperation, we can bridge the gaps that were caused by the war and epidemic, by ONE Providing direct capital injections through investments, loans, and grants, TWO Injecting capital into the banking system to spur investment, THREE Increasing activity through public-private partnership structures and finally creating a strong enabling environment for innovation. “ She expounded
Hon. Ashatu Kijaji while giving out her speech, recognized the role of the private sector as key driver of Tanzania’s economy and commended the organizers from the embassy of Italy for bringing the two business communities from Italy and Tanzania. She gave remarks that Tanzania is open to anyone who wants to bring capital and invest in Tanzania as Tanzania offers the best incentives.
Hon. Ashatu Kijaji informed the business community at the Italy Tanzania Business and Investment Forum that a new proposed investment activity has been put on the table for first reading in an effort to reform the country’s economy. The act aims to promote and attract more trade and investments, both domestic and foreign.
“President Samia Suluhu Hassan aspires to see the country with suitable investment climate which attracts more business, so the proposed investment bill is one of the tools that will see the dream of our president [Samia Suluhu Hassan] be realized,” she explained.
TPSF will continue to be a strong partner to government and the voice of private sector. It provides a platform for the private sector to engage in Public Private Dialogue (PPD) at the local, national and international levels. It also offers information, investment & trade advisory and networking opportunities for members, and is a key partner to the government and other stakeholders in the Tanzania Private Sector Foundation formulation and implementation of policies and strategies geared towards spurring economic growth.