The 2014 Tanzania Israel Business Investment Forum (TIBIF)2014 took place in Dar es Salaam on March 17th 2014.
The objective of the forum was to enhance cooperation between foreign investors with particular reference between Israel businesses and local Tanzanian enterprises.
The forum also intended to foster strategic alliances and solid business partnerships between private small and medium scale businesses from Israel and Tanzania and other countries.
Tanzania Vice-President Dr Mohamed Gharib Bilal who attended the forum said that his country was looking forward to tapping Israel’s experience in transforming the country’s full potentials in minerals, gas and oil deposits, fisheries, livestock, forestry and wildlife.
Earlier this year Israel offered to share with Tanzania its taxation expertise in the oil & gas industry.
Over the past two years, exploration activities in Tanzania’s deep offshore waters led to the discovery of 45 trillion cubic feet (tcf) of natural gas, and more is to come as drilling campaigns continue to unfold. It is estimated that the recoverable reserves will more than double to 100 tcf by the year 2015.