"In 2018, the government will continue taking efforts aimed at making the country more conducive to both local and foreign investments," said a statement by the Directorate of Presidential Communication at State House in the commercial capital Dar es Salaam.
The statement said the President made the pledge at a sherry party he had hosted on Friday night for members of the diplomatic corps and international organizations based in the country.
President Magufuli said efforts to make Tanzania more investment friendly included the fight against corruption and the improvement of infrastructure, including roads, railways and air transport, said the statement.
"These efforts are aimed at making Tanzania the best destination for doing business," said President Magufuli, urging the diplomats to invite investors in their respective countries to come to Tanzania to do business.
"Let the investors come to this peaceful country, and the government will render any cooperation needed," said President Magufuli who took power in November 2015.
He said Tanzania made impressive achievements in the past two years of his administration, including the fight against tax evasion and avoidance.
Magufuli said the country's annual economic growth is at 6.8 percent on average while inflation rate is controlled at below 5.5 percent.
He said Tanzania will continue implementing its regional and international undertakings, including peace mediation in Burundi, the Democratic Republic of Congo, Lebanon, Sudan and South Sudan.
However, he expressed concern over the United Nations decision to cut costs in peace keeping missions saying the move will endanger the lives of peacekeepers scattered in various hot-spots across the world.