Tanzania seeks Saudi investment, trade boost

Industry and Trade minister Ashatu Kijaji. Photo | File

By  Rosemary Mirondo Business Reporter Mwananchi Communications Ltd

What you need to know:

• Kijaji invited Saudi Arabian businessmen to invest in the country in the sectors of agriculture, industry, livestock, energy, mining, tourism, pharmaceuticals, and real estate.

Dar es Salaam. The government has requested that Saudi Exim Bank provide capital to Tanzanians and Saudi Arabian businessmen resident in Tanzania, allowing them to create diverse products in Tanzania and stimulate trade between the two nations.

A statement issued by the ministry of Industry and Trade yesterday, said the issue was raised at a meeting between minister Ashatu Kijaji and the CEO of Saudi Exim Bank, Mr Saad Alkhalb, at the ongoing World Economic Forum (WEF) meeting in Riyadh.

According to the statement, Dr Kijaji also invited Saudi Exim Bank to Tanzania to facilitate trade between the two countries by providing loans with concessional terms to contractors who carry out their work in Tanzania.

“We need to enable our businesses to make quality items in sufficient numbers to compete anywhere in the world,” she said.

Given this, she invited Saudi Arabian businessmen to invest in the country in the sectors of agriculture, industry, livestock, energy, mining, tourism, pharmaceuticals, and real estate.

This was also said by the Kijaji when she met and held talks with the Chairman of the Chamber of Commerce and Industry of Saudi Arabia, Hassan Al-Huwaizi.

In addition, she said the Ministry of Industry and Trade, together with its institutions and Tantrade, will provide great cooperation in collaboration with institutions of the relevant sector as well as the Investment Centre. “We have many areas in the sectors mentioned that need investments, which is why we invite you to take an interest and invest,” she said.

Responding, the Executive Director of the Saudi Exim Bank, Engineer Saad Alkhalb, promised to work on the opportunities that exist between Tanzania and Saudi Arabia to facilitate capital and business efficiency for more benefits, especially in meat, fish, and fruits.

The chairman of the Chamber of Commerce and Industry of Saudi Arabia, Hassan Al-Huwaizi, and his delegation have agreed to connect businessmen and investors from Saudi Arabia to invest in Tanzania.

Dr Kijaji is leading Tanzania’s delegation to the WEF.