THE Tanzania National Business Council (TNBC) has launched a new blue economy working group, aimed at unlocking economic opportunities and driving sustainable socio-economic growth, in an event in Dar es Salaam.

Private sector stakeholders expressing strong optimism about its potential to contribute to economic development, while chief guest Abdallah Hassan Mitawi, deputy permanent secretary in the Union Vice President’s Office (VPO) said the blue economy is vital in identifying new economy drivers.

It is a sector where Tanzania can harness its aquatic resources to stimulate economic growth, he said, noting that this initiative aligns with directives from President Samia Suluhu Hassan.

The measures are tied to the 2012 Rio de Janeiro and 2019 African Union (AU) summits, which underscored the vast potential of the blue economy in driving Africa’s economic growth, he stated.

The blue economy encompasses a wide range of resources, including the seashore and special economic zone, rivers, lakes and related marine life, with key components such as fisheries, marine products and coastal tourism playing a central role, he said.

Zanzibar has already taken significant steps towards implementing blue economy initiatives since 2019, including setting up a functional ministry, while on the Mainland, the blue economy policy is a fairly recent initiative.

Introduced this year with coordination led by the environment division of the Vice President’s Office, the blue economy touches on a wide range of activities, including fisheries, mining, tourism, energy, manufacturing, environmental conservation and commerce, he stated.

“We are here to identify opportunities and challenges within this sector and develop actionable recommendations to ensure it makes a substantial contribution to the national economy,” he stated.

Ambrose Mugisha, head of the blue economy unit at the United Nations Development Programme (UNDP) country office, noted that the International Monetary Fund (IMF) projects Tanzania’s economy to double in the next decade, with blue economy activities increasingly becoming a key growth driver.

Asserting that Tanzania’s population is projected to reach 100m by 2034, he said this situation provides a substantial workforce to support blue economy’s expansion.

The global economy is increasingly focusing on the blue economy, rapidly becoming one of the fastest-growing sectors and this will be the case over the next decade and half,” he said.

Lamine Diallo, head of the natural resources unit at the European Union (EU) delegation, shared that the EU has been actively funding projects to support the blue economy, for sustainable fisheries and climate change mitigation efforts.

Dr Godwill Wanga, the TNBC executive secretary, stressed the need for improved conditions to foster the growth of the blue economy, underlining that the EU has agreed to prioritise areas that can accelerate growth through this sector.

He also expressed gratitude to the development partners, including the EU, UNDP and private sector stakeholders, for sustained support, urging more collaboration to strengthen the pace of realisation of the president’s development agenda.

The launch of the blue economy working group marks a significant step towards leveraging the country’s abundant aquatic resources for sustainable growth while addressing pressing challenges such as climate change and environmental conservation, he added.