By Business Insider Reporter
Tanzania has signalled its readiness to deepen economic cooperation with Singapore in key growth sectors, including trade and investment, tourism, artificial intelligence and digital systems for government revenue collection.
The Minister for Finance, Khamis Mussa Omar, said Tanzania is keen to expand collaboration with Singapore to accelerate economic transformation and strengthen public finance management through technology-driven solutions.
He made the remarks in Dar es Salaam during talks with Singapore’s Ambassador to Tanzania, Douglas Foo, who is based in Singapore.
The meeting focused on ways to further strengthen bilateral cooperation across economic, social and diplomatic spheres.
Fast-tracking investment protection and tax agreements
Mr. Omar said discussions centred on accelerating the conclusion of key legal instruments, including a bilateral investment protection agreement and a double taxation avoidance agreement.
He noted that finalising the frameworks would provide greater certainty for investors, lower the cost of doing business and stimulate cross-border trade and capital flows between the two countries.
The minister emphasised the importance of strengthening economic ties with Singapore and formally invited Singaporean investors to explore opportunities in Tanzania, citing the country’s strategic location as a regional trade gateway serving more than six landlocked countries in East and Central Africa.
“Tanzania offers access to a large and growing regional market, supported by improving infrastructure and ongoing reforms to enhance the investment climate,” he said.
Digital taxation and artificial intelligence
Mr. Omar highlighted Singapore’s advanced use of digital technologies in tax administration, saying Tanzania is ready to draw lessons from Singapore’s experience to modernise its own revenue systems.
He said knowledge transfer in digital taxation could help improve efficiency and compliance at the Tanzania Revenue Authority, boosting domestic revenue mobilisation while reducing administrative costs.
The minister also pointed to artificial intelligence as a new frontier for cooperation, with potential applications across public finance, service delivery and economic planning.
Singapore pledges support
For his part, Ambassador Foo said the Singaporean government is ready to deepen cooperation with Tanzania by encouraging Singaporean companies and institutions to trade with, invest in and transfer technology to Tanzania.
He described Tanzania as a trusted and long-standing partner, noting that the two countries have enjoyed diplomatic relations for 46 years.
He added that the partnership now needs to be strengthened further to deliver tangible economic benefits to both sides.
Analysts say closer ties with Singapore – one of Asia’s leading financial and logistics hubs – could support Tanzania’s ambitions to position itself as a regional centre for trade, investment and digital public services. The talks come as Tanzania intensifies efforts to attract high-quality foreign investment, modernise revenue collection and leverage technology to support sustainable economic growth.
