- Tanzania has signed a US$7.49 billion business partnership deal with the United Arab Emirates (UAE)
- Samia Suluhu spearheaded the signing of some 36 MoUs of which 12 were signed by government public institutions
- Working with Tanzania, she said, the UAE will enjoy a market of 177 million people of the East African Community (EAC)
Tanzania’s President Samia Suluhu Hassan is making headlines, the latest of which is an impressive US$7.49 billion business partnership deal with the United Arab Emirates (UAE).
President Samia, the first woman president of the country, attended Dubai Expo 2020 at the turn of the week. She was received by Vice President and Ruler of Dubai, Sheikh Mohammed bin Rashid, at the start of this month.
Among other things, Sheikh Mohammed and President Samia discussed ways to extend cooperation between their countries. The meeting was strategically held during Tanzania’s national day at the fair.
Themed, Connecting Minds, Creating The Future chimed well with her country’s own theme, Ready To Take Off, the Expo gave the two leaders the opportunity to discuss bilateral relations and open up business opportunities for both countries.
“These two themes embrace the new age of investment and trade with strategic partners like the UAE, in particular, and the Gulf in general,” President Samia commented about the Expo theme.
President Samia took the opportunity to invite UAE investors to Tanzania saying in line with the Expo theme, Tanzania is ‘Ready to take off.’
“I would like to take this opportunity to welcome you all to Tanzania, where the business and investment environment are more than conducive. Come one, come all to Tanzania,” she said.
Commenting on the improving ties between the two countries, Sheikh Nahyan bin Mubarak, Minister of Tolerance and Commissioner General of Expo 2020 Dubai, said, “Tanzania has always been one of the UAE’s closest partners in the region across cultural, economic, and political fronts, and we look forward to expanding our partnership in various areas of mutual interest.”
Samia inks 30 plus investment MoUs
Tanzania’s President Samia spearheaded the signing of some 36 MoUs. Of these, 12 were signed by government public institutions, 23 by private sector parties and one by the Revolutionary government of Zanzibar.
The President reassured investors of Tanzania’s favourable business environment. She placed emphasis on the country’s peace and political stability which she said makes Tanzania a unique investment destination where investors will enjoy open doors to invest across all sectors.
She placed a special note on the country’s potential in tourism and hospitality as well as agriculture and energy.
“Tanzania is strategically located and the port of Dar es Salaam is the gate to Africa’s interior. The 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,” she reassured the investors.
Through working with Tanzania, she said, the UAE will enjoy a market of 177 million people of the East African Community (EAC), the Southern African Development Community (Sadc) and the overall business opportunities afforded by the African Continental Free Trade Area (AfCFTA).
“Tanzania is ready for the take-off, therefore let’s fly together,” she said underlining the Expo theme.
The president said investors that come to Tanzania will be afforded easy and expedited company registration, access to labour, land acquisition, business licensing and tax advisory services.
“The facilitation is provided through a one-stop-centre, the Tanzania Investment Centre (TIC) for Tanzania Mainland and Zanzibar Investment Promotion Authority (Zipa) for Zanzibar,” she detailed.
“I’m told as of yesterday, over 100,000 visitors have visited our pavilion. I would like to take this opportunity to welcome all investors to Tanzania where the business environment is more than conducive,” the President said.
Tanzania Showcases Country Investment Options
Tanzania held a business and investment forum at the Dubai Expo 2020 which attracted well over 400 business patrons from both Tanzania and the UAE.
The event allowed Tanzania to promote the country’s investment options along with several sectors including tourism, agriculture, oil and gas, minerals, energy, livestock and fisheries and general infrastructure development.
“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,” said Tanzania’s Investment, Industry and Trade Minister, Dr Ashatu Kijaji.
“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,” the minister added.
Tanzania Strengthening Ties With Abu Dhabi
Prior to the Expo, the President met with Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and who is also the Deputy Supreme Commander of the Armed Forces.
As she did at the Dubai Expo, president Samia used the opportunity to strengthen economic ties. She said Tanzania looks to boost links with the UAE and acknowledged the development support that the Emirates is extending to Tanzania.
During that meeting, president Samia also met with the Chairwoman of the General Women’s Union and the President of the Supreme Council for Motherhood and Childhood Sheikha Fatima bint Mubarak.
The two leaders discussed cooperation in socio-economic development in the areas of family, childhood and women’s empowerment. President Samia highlighted the great work done by the “Sheikha Fatima bint Mubarak Women, Peace and Security Initiative” that is been held in partnership with UN Women.
About The Dubai Expo 2020
Expo 2020 is a World exhibition event that is held in Dubai in the United Arab Emirates. The event is one of the largest expos in the world and is held over the span of several months, from 1 October 2021 to 31 March 2022.
The expo was originally scheduled for 20 October 2020 to 10 April 2021 but with the outbreak of the pandemic, it was postponed to start late last year and run through this year.
Dubai won the selection to host the expo back in 2013 when the Bureau International des Expositions (BIE) general assembly ruled Dubai to host the event. The grand event is been held on a 438-hectare of land between the cities of Dubai and Abu Dhabi.
The master plan of the expo venue was designed by the American firm HOK and the design strategically has a central plaza that is enclosed by three large thematic districts. Each one of these is then designed to mirror one of the sub-themes of Expo 2020 – Opportunity, Mobility and Sustainability.