Africa-Press – Tanzania. PRESIDENT Samia Suluhu Hassan has invited Egyptian businessmen to invest in ten key priority sectors in Tanzania, assuring them of her government’s full investment facilitation.
The President listed the sectors as livestock, agriculture, real estate industry, energy, tourism and hospitality, pharmaceutical, transportation, mining, manufacturing and agroprocessing industries.
She was speaking shortly after holding talks with her host, Egyptian President Abdel Fattah El Sisi in Cairo yesterday at the start of her three-day state visit.
“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.
President Samia said during her talks with the Egyptian president, they also agreed to strengthen bilateral ties and improve the trade relations between the two countries.
“In the joint projects, we have agreed to work closely in agriculture, livestock and fisheries where Tanzania can benefit greatly from Egyptian technology and expertise,” she noted.
Giving out statistics, President Samia said the economic ties between the two countries have continued to grow especially in the areas of trade and investment, saying trade volume increased to 87.3bn/- in 2020 up from 84.3bn/- that was recorded in 2018.
President Samia revealed that the country through the Tanzania Investment Centre (TIC) registered a total of 26 projects from Egypt worth 1.3billion US dollars that have created 2,206 jobs.
“We invite more Egyptian investors to come and explore investment opportunities in Tanzania,” said President Samia, adding that the country has continued to enjoy peace, stability and tranquility that have provided the opportunity for the government to focus its efforts to strengthen the economy and provision social services.
Expounding further, President Samia told her Egyptian counterpart that Tanzania’s Gross Domestic Product (GDP) is projected to grow by 4.6 per cent in this and next year. During their talks, President Samia also extended appreciation to the Egyptian government for the technical support on the implementation of the ongoing construction of the Julius Nyerere Hydro Power Project (JNHPP).
She said the JNHPP which is one of the biggest national projects in Tanzania, reflects the depth of the special relations shared by the two countries.
The project, whose completion is expected to produce 2115 megawatts of electricity, is being implemented by a consortium of Egyptian companies that include Arab Contractors Company and El Sewedy Electric.
“Tanzania has also been a recipient of a number of scholarships and capacity building training programmes from the government of Egypt, this support has played a vital role in building capacity, increasing knowledge, skills and expertise of our public officials,” she acknowledged.
President Samia on the other hand commended President El Sisi for his move to commence teaching of Kiswahili language in the leading institutions in Egypt, saying Tanzania is ready to support by deploying professional teachers.
She also called for continued cooperation in military and defence training on the grounds that the two countries share mutual concerns for peace and security at a regional and global level.
President Samia’s move reflects the country’s foreign policy that focuses on economic diplomacy. The policy is implemented in line with domestic needs and priorities with the view of promoting peace, stability and prosperity.
According to the Third Five – Year Development Plan (FYDP III), regional and international cooperation provide opportunities for the resolution of economic and political disagreements, and for attracting investment.
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