FORTY Italian companies have camped in the country to explore investment opportunities in various sectors including energy production from waste.

Giuseppe Coppola, the resident Italian ambassador, made this affirmation in Dar es Salaam yesterday at a discussion on the fourth Tanzania-Italy investment forum set for February 11-12 in Dar es Salaam, then hosted in Zanzibar on February 14.

The companies are also training the light on investments in agricultural technologies, the blue economy, alongside the health and pharmaceutical sphere, he said.

The forum is expected to bring about key investment opportunities for participating firms, where the envoy pointed at the green economy and sustainable infrastructure as critical.

The firms expect to explore how to produce clean energy from waste plus renewable energy production, apart from water purification chemicals.

Transportation is another sphere of interest, along with sustainable infrastructure, digital development and mining sector openings, he stated.

Renewable energy is a particularly promising area that is being closely observed, he asserted, wondering if the audience was aware that Italy is one among countries producing substantial amounts of renewable energy globally.

“Our aim is to share this knowledge and experience with our Tanzanian counterparts, and we know that some Italian companies will participate in the business forum, particularly those interested in this area,” he said.

The forum is being convened shortly after the African Heads of State energy summit, seeking to ensure that 300 million Africans have access to electricity by 2030.

Renewable energy was identified as a key area for investment due to its widely available resource base, while in agriculture, Italian firms wish to focus on agricultural technologies.

Agro-sector issues also encompass elements of the blue economy, while taking up fertilizers, irrigation systems, livestock farming, leather processing, fish farming and marketing, he said.

“For the health and pharmaceutical sector, we are focusing on health technologies, machinery, healthcare services, dental equipment, sports equipment and related services,” he specified.

The forum is intended to boost trade between the two countries, strengthen investment flows and build business networks through open discussions, he asserted.

Professional workshops and business tours for executive training to foster the exchange of knowledge and expertise are also lined up, for stakeholders to comprehend the economic landscape and current business trends.

This will facilitate strengthening of relationships with local firms as part of the pursuit of investment opportunities in various sectors, he further noted, highlighting that economic relations between Italy and Tanzania have been growing rapidly in recent years. 

Trade between the two countries has increased significantly across sectors such as manufacturing, agriculture, tourism, technical cooperation, machinery, chemicals, electrical equipment, pharmaceuticals and food products, he stated.

Tanzania exports agricultural products and minerals such as coffee, tea, cotton and gemstones to Italy, with Italy increasingly recognising the need to invest in the country’s tourism and agriculture sectors, he said.

Trade statistics show that despite exporting various products to Italy, Tanzania still sells a relatively small amount compared to what it imports.

In 2023, Italy exported goods worth 380.99bn/- to Tanzania, while importing goods worth 2,143.09m/- from Tanzania, and even then, despite the trade imbalance, from 2020 to 2024 Italy invested 318.85bn/- spread out in nine projects, the envoy explained.

John Mnali, the director of investment promotion, confirmed that 45 companies have been registered as participating in the forum, with 500 local stakeholders and executives mobilised to attend.

“The targeted sectors include agriculture, fisheries, marine issues and human pharmaceuticals,” he added.