- Singapore’s President tells Dar es Salaam that raw mineral wealth must be leveraged to build technological capacity, not shipped raw during his historic visit to the EA country.
- Up to 15 Singaporean firms strike deals across Tanzania as business leaders pledged to turn “good political relations into real commercial outcomes.”
- Zanzibar’s deep-water port ambition and Singapore’s logistics expertise likely to find common ground following visit.
“The two sides also welcomed the East African Community’s (EAC) intention to pursue a free trade agreement with Singapore,” details the press statement.
Notably, this will be the regional bloc’s first free trade negotiations with a partner outside Africa as well as Singapore’s first with an African partner. The free trade agreement would give Singapore access to all EAC countries including Democratic Republic of Congo, Burundi, Kenya, Rwanda, South Sudan, Somalia, Uganda and the host country Tanzania.
The visit has resulted in at least fifteen representatives of top Singaporean companies entering major trade and investment deals across the country and the wider East African Community market.
In his address at the Tanzania-Singapore Business Forum in Dar es Salaam, Singapore Business Federation (SBF) Vice Chairman Mark Lee said congratulated presidents of both countries noting that they have converted longstanding diplomatic relations into “meaningful commercial partnerships that deliver mutual economic benefits.”
“Our goal is to turn good political relations into real business outcomes that create value for both countries,” he said. He highlighted the fact that between 1997 and present day, Singapore has implemented at least 36 investment projects in Tanzania valued at over $500 million, and helped create over 3,000 jobs for Tanzanians.
“Despite this achievement,” he said, “there is significant untapped potential for deeper cooperation between our two countries.”
Citing that the visit by the Singaporean business delegation marks the first step towards expanding partnerships in strategic sectors including industrial infrastructure, transport and logistics, commodity trading, agriculture, technology, and business services. He said, Tanzania’s strategic location, growing economy, and access to the East African market makes it a key strategic destination for Singaporean investors seeking long-term growth opportunities.
“We have not come simply to reap profits, but to work together in building economies that benefit both sides,” he emphasized.
The business forum is evidence of efforts by both countries to strengthen economic cooperation, attract investment, and create new opportunities for businesses operating in Africa and Asia.
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Singapore’s Shanmugaratnam talks mining value addition
At his landmark public address delivered at the University of Dar es Salaam on Tuesday, President Shanmugaratnam said his visit effectively reframes the strategic partnership between the entire Southeast Asia and East Africa.
The high-profile lecture, which was the cornerstone of the university’s 11th Research and Innovation Week, focused on the link between Tanzania’s mineral wealth to global acceleration of renewable energy systems and digital transformation.
President Shanmugaratnam said both nations are at a critical juncture “…as the world races toward a decarbonized future, Tanzania is endowed with a stockpile of highly coveted mineral reserves while Singapore requires secure supply chains to maintain its competitive advantage.”
He said; “The convergence of these mutual imperatives underscores a sophisticated shift in international diplomacy.”
He went on to articulate a vision beyond traditional resource extraction models to value addition that benefits the resource rich nation. “Raw mineral wealth must be aggressively leveraged to build domestic technological capacity,” he emphasized.
He went on to deliver a compelling case for bilateral knowledge exchange, and insisted on establishing advanced processing capabilities within Tanzanian. “The geopolitical stakes surrounding Tanzania’s mineral reserves cannot be overstated,” he underscored.
He said, as global powers seek to secure the foundational components required for the green revolution and global energy transition, Singapore’s strategic approach is to securing influence in the region, offering advanced educational and technological partnerships in exchange for long-term economic cooperation.
Singapore, Zanzibar explore bilateral partnership
President Shanmugaratnam cited that logistics is a core strength for Singapore, which offers opportunities of interest to Singapore firms.
“Zanzibar has plans for a major new deep-water port at Mangapwani, and it hopes it can be a transshipment port for very large container carriers. It also has plans for an industrial park to go with the port…we can work together to realize these ambitions,” he noted.
Zanzibar President Mwinyi welcomed Singapore firms to help with the intended industrial park design, and developing manufacturing plants.
He also cited agribusiness, tourism, fintech, and digitisation as areas that offer opportunities for Singapore companies.
While in Zanzibar, Singapore First Lady Mrs. Jane Ittogi Shanmugaratnam met with Zanzibar’s First Lady Mama Mariam Mwinyi at the Zanzibar Maisha Bora Foundation and discussed partnership in social and community empowerment initiatives.
“More of our young people should also get to know Africa… it pays to understand Africa, and to understand first of all that it is a continent with very diverse regions, very different countries,” the Singapore First Lady said.
