In a large nonstick skillet, heat the oil over medium-high heat. In batches, add beef strips and cook for 2 to 3 minutes per batch or until browned on all sides. Add onion, garlic, paprika, cumin, cinnamon and red curry paste. Saute for 2 minutes ot until fragant . Add potatoes and carrots.
In a small bowl, combine tomato paste., cocnut milk and water and mix well. Add to skille, stir to combine with meat and vegetables. Cover, set to low heat and cook for 1 1/2 hours.