Egypt is expanding investments in Tanzania, focusing on technology, education, health, agriculture, and infrastructure to enhance bilateral ties. This initiative follows a visit by Egypt’s Foreign Minister and business leaders, highlighting the Julius Nyerere Hydropower Dam project as a key milestone. The commitment to strengthen this partnership reflects the potential for significant economic cooperation between the countries.
Egypt has unveiled ambitious plans to elevate its investments in Tanzania, targeting vital sectors such as technology, education, health, agriculture, and infrastructure. This initiative seeks to strengthen the historical ties between the two nations and enhance collaborative efforts, as articulated during the official visit of Egypt’s Minister of Foreign Affairs, Dr. Badr Abdelatty, accompanied by leading Egyptian business figures.
A significant aspect of Dr. Abdelatty’s visit was the finalization of the launch date for the Julius Nyerere Hydropower Dam, nearly complete at 99.9%. This multi-billion-dollar infrastructure project promises to transform Tanzania’s energy sector and the region. Egyptian President Abdel Fattah el-Sisi’s attendance at the inauguration underscores the commitment both nations have towards this project.
Dr. Abdelatty remarked, “We aspire for the relationship between Tanzania and Egypt to set a benchmark for brotherhood and cooperation among Nile Basin countries. This is our shared vision.” The dam is expected to not only secure energy for Tanzania but also create additional opportunities for investment in the energy sector.
Tanzanian Minister of Foreign Affairs and East African Cooperation, Mr. Mahmoud Thabit Kombo, emphasized the importance of the discussions focused on enhancing the long-standing relationship between the two nations. He stated, “This is a pivotal moment. We are not just discussing trade; we are reinforcing a historic relationship with a vision for the future.”
Currently, Egypt ranks as Tanzania’s eighth-largest foreign investor with investments amounting to $1.367 billion and approximately 3,800 jobs generated. However, both ministers recognized that this investment level is relatively modest compared to the potential for greater economic collaboration. Mr. Kombo affirmed, “The time has come to expand our partnership. The opportunities between our two nations are immense, and this visit is a crucial step towards harnessing them.”
Dr. Abdelatty praised Tanzania’s favorable business climate, attributing its conducive environment to the leadership of President Samia Suluhu Hassan. He acknowledged a growing interest among Egyptian investors in exploring opportunities within Tanzania, particularly encouraging SMEs to engage in investments there.
In conclusion, Egypt’s commitment to expanding its investment in Tanzania through key infrastructure projects, such as the Julius Nyerere Hydropower Dam, signifies a strengthening bilateral relationship. Both nations aim to harness the vast economic opportunities available while fostering a collaborative spirit. This partnership, underpinned by mutual interests and aspirations, is poised to enhance economic growth and cooperation in the region.
Original Source: www.thecitizen.co.tz
