Posted on February, 3, 2022 at 07:29 am
TANZANIA and Egypt have agreed to boost investment in agriculture, transportation, energy, infrastructure, water and transportation.
Minister for Investment, Trade and Industry, Dr Ashatu Kijaji and Egyptian Ambassador to Tanzania, Mr Mohamed Gaber Abulwafa met on Monday in Dar es Salaam to discuss various investment opportunities available within the two countries.
Dr Kijaji stated that the two nations' friendship and investment cooperation has been reinforced during President Samia Suluhu Hassan's visit to Egypt on November 10, 2021, where she met Egyptian President Abdel Fattah Al Sisi.
"There is every reason to continue the bilateral trade talks and conferences to provide opportunities for traders to take advantage of investment opportunities available in Egypt and Tanzania," she said, noting that trade between the two countries has increased from 84.3bn/- in 2018 to 87.3bn/-in 2020.
Egypt has invested in 26 projects worth 3.1tri/- in Tanzania, according to Ambassador Abulwafa, and has created 2,206 jobs for Tanzanians.
Ambassador Abulwafa stated that Egyptian businessmen were in Tanzania for a Business Forum, where they were presented with numerous investment options and are currently in the process of investing in Tanzania's agricultural and livestock sectors, particularly cashew, avocado and maize.
He also stated that Egypt is planning to launch a marine transport between Egypt and Tanzania in order to boost investment and trade, as well as facilitate the transit of commodities between the two nations.
Dr Kijaji concluded that Egypt has been implementing a number of strategic projects in Tanzania, including the Julius Nyerere Hydropower Project (JNHPP-MW2115), which is expected to be completed in June 2022 and will assist factories in producing reliably once the country's electricity crisis is resolved.
During her visit to Egypt, President Samia invited Egyptian businesspersons to invest in 10 key priority sectors in Tanzania, assuring them of her government's full investment facilitation.
President Samia listed the sectors readily available for investments as livestock, agriculture, real estate, industry, energy, tourism and hospitality, pharmaceutical, transportation, mining, manufacturing and agro-processing industries.
"My government will render all the necessary facilitation to the Egyptian business community wishing to invest and do business in Tanzania," she said during a press conference held at the Ettihadiya Palace in eastern Cairo.
Source: Daily News