By Alfred Zakaria
In a bid to further boost the country’s development, President Dr. Samia Suluhu Hassan’s government has invited investors from Saudi Arabia to explore investment opportunities in various sectors within Tanzania.
The invitation was extended by Finance Minister Dr. Mwigulu Nchemba, who emphasized that Saudi investors have the opportunity to invest in Tanzania in areas such as tourism, agriculture, mining, infrastructure development, and the blue economy.
Dr. Mwigulu made this announcement during a meeting with Saudi Arabia's Deputy Minister for Economy and Planning, Engineer Ammar Naqadi, on the sidelines of the Business and Investment Forum organized by the Tanzanian Embassy, in collaboration with the Tanzania Investment Centre (TIC) and the Zanzibar Investment Promotion Agency (ZIPA).
The forum was held recently in Riyadh, Saudi Arabia.
He highlighted that Tanzania is progressing with the construction of the Standard Gauge Railway (SGR), with the section from Dar es Salaam to Dodoma already completed, and construction continuing toward Mwanza and the DRC th
rough Burundi. This development presents an opportunity for Saudi Arabia to invest in the infrastructure, which will stimulate trade between Saudi Arabia, Tanzania, and East African countries.
In response, Engineer Naqadi stated that Saudi Arabia is ready to collaborate with Tanzania in the development of railway infrastructure to facilitate the transportation of people, agricultural products, and goods, thereby boosting trade
. He also emphasized that private sector participation is crucial for the success of trade between the two countries.
Furthermore, Saudi Arabia is eager to partner with Tanzania in opportunities for the development of the mining, agriculture, oil and gas, tourism, seafood processing, and infrastructure sectors
. The country plans to form a team of experts in collaboration with the private sector to visit Tanzania, explore investment opportunities, and assess the investment climate to facilitate successful investments.