Tanzania bags Sh17.3 trillion deals at Expo Dubai

New Content Item (1)
New Content Item (1)

What you need to know:

  • Tanzanian public and private institutions have signed 36 MoUs valued at $7.49 billion with their United Arab Emirates counterparts at Expo Dubai 2022

Dar es Salaam. Tanzania’s public and private institutions have signed a total of 36 memorandums of understanding (MoUs) valued at $7.49 billion (nearly to Sh17.3 trillion) with their United Arab Emirates (UAE) counterparts.

That was revealed yesterday by Investment, Industry and Trade minister, Dr Ashatu Kijaji when addressing the business and investment forum held alongside the Dubai Expo 2020.

The event was officiated by President Samia Suluhu Hassan and attended by over 400 members of business communities from Tanzania and UAE.

Speaking during the event, Dr Kijaji said the signings testified the two sides’ commitment to continue strengthening and promoting economic ties.

“This forum provides opportunities for both countries to consolidate and strengthen economic relations through investment and trade which align with Tanzania government’s efforts to drive economic growth and sustainable development through industrialization,” she said.

She said Tanzania’s participation at the World Expo 2020 Dubai, the country has maximized the expo by promoting the country’s potential in the sector of tourism, agriculture, oil and gas, minerals, energy, livestock and fisheries, construction, transportation as well as showcasing the ki-Swahili language.

“I just wanted to assure investors that the current Tanzania administration is open minded and believes that business is nurtured and grows in principles of dialogue, engagement, trust, long term partnership and by working together,” said Dr Kijaji.

Speaking on the 36 MoUs, she said 12 were signed by government public institutions, 23 between private businesses from the two sides and one by the Revolutionary government of Zanzibar.

Opening the forum, President Hassan assured investors of the conduciveness of the business environment, noting that being a member of the East African Community (EAC) and the Southern African Development Community (Sadc) as well as the country’s ratification of the African Continental Free Trade Area (AfCFTA) they will enjoy the 1.3 billion African consumer market.

“It’s also strategically located, the port of Dar es Salaam being the gate of Africa.

Therefore, when you come to Tanzania, you have come to Africa,” she said.

“Government values the role of the private sector in business and investment promotion, therefore, it upholds and strengthens the public-private sector partnership through open dialogues,” said President Hassan.

The Head of State said it is her hope that all the agreements will be practically implemented for realization of concrete investments - hinting that her government was ready to resolve challenges and any stumbling blocks.

“Tanzania is ready for the take-off, therefore let’s fly together,” said President Hassan in her speech.