TANZANIA’S path to becoming a $1 trillion economy by 2050 will be powered by a confident and committed private sector, according to renowned businessman Rostam Aziz, who addressed the official launch of National Development Vision 2050 in Dodoma.

Rostam applauded the inclusive nature of the new national vision and pledged full private sector support in realising its goals.

 “We believe this country can surpass the trillion-dollar mark. That is the level of ambition Tanzania deserves,” Aziz declared.

He noted that initial projections for Tanzania’s 2050 GDP—estimated at between \$500 and \$700 billion—had been revised upwards due to strong engagement from private sector leaders who believe the nation’s economic potential is far greater.

Aziz proposed the immediate establishment of a $70 million annual Talent Development Fund** to support the overseas training of 1,000 of Tanzania’s brightest young minds in critical disciplines including artificial intelligence, engineering, finance, and data science.

These students, he said, would attend world-leading universities under bonded contracts and return to serve the nation in strategic roles.

 “This is not charity—it is strategic investment. Our future depends on elite talent,” he said.

While advocating global exposure, Aziz also stressed the urgent need to invest in Tanzania’s domestic education system, calling for curriculum reform, stronger institutions, and deliberate leadership development.

 “We must not wait for our youth to return from abroad—we must build world-class capabilities here at home,” he urged.

Aziz identified manufacturing as central to Tanzania’s future industrialisation and prosperity. He called on the government to adopt protective policies for local industries and enforce smarter trade practices.

 “No country has ever built a successful industrial economy without defending its factories,” he warned.

He further recommended that Tanzanian embassies play an active role in locating and attracting skilled diaspora professionals, particularly those working in high-tech sectors such as AI, biotechnology, and clean energy.

Aziz commended Foreign Minister Mahmood Thabit Kombo for advancing economic diplomacy and helping link global expertise to Tanzania’s national development agenda.

Quoting Chinese reformer Deng Xiaoping, Aziz reminded the audience that “peace and stability are the foundation of all progress.”

 He emphasised the importance of strong institutions, coherent long-term policies, and visionary leadership in ensuring the success of Dira 2050.

Turning to the financial sector, he issued a sharp critique of Tanzania’s current banking system, arguing that it fails to provide local entrepreneurs with the necessary capital to grow.

 “No local business can thrive under the current lending conditions. We must reform our financial architecture,” he said. 

Aziz concluded by praising President Samia Suluhu Hassan for her steady leadership, commitment to continuity, and focus on infrastructure development. He highlighted her efforts to complete legacy projects, initiate new ones, and foster a results-driven governance culture.

 “That shift—from starting over to building forward—is psychologically transformative for national leadership,” Aziz remarked.

 “This is our moment to move forward with courage. The Planning Commission must be the heartbeat of this transformation. We, in the private sector, are ready.” He said.