FINANCE Minister Dr Mwigulu Nchemba has assured Denmark of Tanzania’s readiness to work with the country through its new international cooperation strategy which involves incorporating the private sector into its development goals.

Dr Nchemba made the remarks in Dodoma late last week during a meeting with Dan Jørgensen, Danish minister for Development Cooperation and Global Climate Policy, who was visiting the country.

He said that Tanzania offers excellent investment opportunities across a range of industries and urged Danish businesses, associations and institutions to work with Tanzania’s private sector to jointly invest in technology for mutual benefit.

According to him, the government places a strong emphasis on making sure the private sector drives the nation's economy. To this end, the government has improved the investment climate in the nation through significant policy and legal reforms.

Dr Nchemba mentioned several sectors that require private sector participation, including agriculture, energy and the operation of the Standard Gauge Railway (SGR).

He said Tanzania is prepared to collaborate with Denmark under its new cooperation programmes since it has postponed the decision to close its embassy and intends to allocate funds to sectors that boost economic growth such as energy, tax laws, agriculture, health, education, and private sector.

Dr Nchemba hailed Denmark for upholding their 60-year ties, during which the two nations have been working on initiatives for which Tanzania received funds from Denmark totaling almost 2 billion Danish Krone (646 bn/-).

He said that Denmark has contributed over 103bn/- through the Danish International Development Agency (DANIDA) from its CRDB Bank dividends, which have been utilized to support the health sector through the Health Fund.

The minister, furthermore, asked Denmark, through its Danish Export Credit Agency, to take part in constructing the remaining SGR segments due to its significance for boosting business, welfare of people who will use the railway and the country's income.

Jørgensen commended President Samia Suluhu Hassan for the significant economic progress the nation has made in spite of the numerous difficulties the world faces, saying he believes Tanzania will rank among the world's most prosperous nations in years to come.

He said the Tanzanian government should discuss with the Danish government how to strengthen cooperation in national strategic areas, particularly trade and investment, as part of its new cooperation programme with African countries.