Tanzania and Saudi Arabia Explore Investment Opportunities and Strengthening Economic Ties

Tanzania’s Minister of Industry and Trade, Hon. Dr. Ashatu Kijaji, met with Saudi Arabian business leaders and government officials at the recently concluded World Economic Forum meeting in Riyadh.

The meetings aimed to explore investment opportunities and strengthen economic ties between the two countries.

During a meeting with the Chairman of the Chamber of Commerce and Industry of Saudi Arabia, Hon. Hassan Al-Huwaizi, Dr. Kijaji invited Saudi Arabian businessmen to invest in various sectors of the Tanzanian economy, including agriculture, industry, livestock, energy, mining, tourism, pharmaceuticals, and real estate.

The Chairman and his delegation agreed to connect businessmen and investors from Saudi Arabia to invest in Tanzania.

In addition, Dr. Kijaji met with the CEO of Saudi Exim Bank, Engineer Saad Alkhalb, to discuss empowering Tanzanian and Saudi Arabian businessmen to raise capital and promote trade between the two countries.

Dr. Kijaji advised the bank to provide concessional loans to contractors who carry out their work in Tanzania and businessmen.

The Executive Director of the Saudi Exim Bank promised to work on the opportunities that exist between Tanzania and Saudi Arabia to facilitate capital and business efficiency, especially in meat, fish, and fruits.

Dr. Kijaji also met with the CEO of the Digital Cooperation Organization (DCO), Ms. Deemah Al Yahya, to discuss building the capacity of Tanzanian institutions on e-commerce issues.

The meeting aimed to explore ways to enhance Tanzania’s digital economy and promote e-commerce.

The Minister emphasized that Tanzania has made great strides in generating and distributing electricity in rural and urban areas during a debate on energy reform in the world. She called on industrialized countries to support these efforts to strengthen industrial production.