Tanzania is seeking to attract more than $2 billion in Russian investment and business deals over the next three to five years as President Samia Suluhu Hassan’s government intensifies economic engagement with Moscow. The projection was announced by Ambassador John Ulanga, Director of Economic Diplomacy at Tanzania’s Ministry of Foreign Affairs and East African Cooperation, following President Hassan’s recent state visit to Russia and participation in the St. Petersburg International Economic Forum (SPIEF). Tanzanian officials said discussions with Russian companies opened new opportunities across strategic sectors including mining, healthcare, manufacturing, energy, and technology.
According to The Citizen Tanzania and Business Insider Africa, Russian firms have expressed interest in pharmaceutical manufacturing, vaccine production, and critical minerals development, with some companies indicating the potential to support local production of up to 20 million vaccine doses within five years. The visit also resulted in new cooperation agreements, including a partnership between the Tanzania Special Economic Zones Authority (TISEZA) and Russia’s Roscongress Foundation, alongside plans for direct Air Tanzania flights connecting Dar es Salaam, Zanzibar, and Moscow from July 2026. Tanzanian officials believe these initiatives could significantly boost bilateral trade and investment flows.
The push comes as Tanzania seeks to diversify its international partnerships and attract foreign capital to support its industrialisation agenda. During SPIEF 2026, President Hassan presented five flagship investment opportunities in sectors including ports, mining, fertiliser production, tourism, and energy. Government figures show Tanzania’s foreign direct investment inflows increased to approximately $5 billion in 2025, up from nearly $3 billion in 2021, reflecting the country’s broader efforts to position itself as a leading investment destination in East Africa.
For Tanzania, securing large-scale Russian investment would strengthen funding sources for infrastructure, industrial development, and technology transfer while deepening economic cooperation with one of its longstanding diplomatic partners. TanzaniaInvest noted that the initiative also reflects a broader trend of African nations expanding economic relationships beyond traditional Western partners as competition for investment, trade opportunities, and strategic resources intensifies across the continent.
