Egypt plans to expand investments in Tanzania across key sectors, including technology and infrastructure, during a recent visit by Foreign Minister Dr. Badr Abdelatty. The launch of the Julius Nyerere Hydropower Dam is set to advance energy security. Both nations aim to strengthen their historical ties and explore new economic opportunities together.
Egypt has announced its intent to increase investments in Tanzania across multiple sectors, including technology, health, education, agriculture, and infrastructure. This initiative aims to strengthen the historical ties between the two nations and promote collaboration, particularly following a two-day visit by Egypt’s Foreign Minister, Dr. Badr Abdelatty, accompanied by prominent Egyptian business leaders.
A highlight of Dr. Abdelatty’s visit was the discussion of the inauguration date for the nearly completed Julius Nyerere Hydropower Dam, a vital project expected to revolutionize Tanzania’s energy sector. The project, now 99.9 percent finished, showcases the partnership between the two countries, with Egyptian President Abdel Fattah el-Sisi also set to attend its opening.
Dr. Abdelatty stated, “We aspire for the relationship between Tanzania and Egypt to set a benchmark for brotherhood and cooperation among Nile Basin countries.” He emphasized the significance of the dam as a cornerstone of African cooperation, aiming to significantly enhance Tanzania’s energy security and facilitate further investments.
During the meeting, Tanzanian Foreign Minister, Mr. Mahmoud Thabit Kombo, remarked on the strategic nature of the discussions, noting, “This is a pivotal moment. We are not just discussing trade; we are reinforcing a historic relationship with a vision for the future.” He further emphasized the need to expand the economic partnership between their nations.
Currently, Egypt ranks as Tanzania’s eighth-largest foreign investor, with investments amounting to $1.367 billion and providing around 3,800 jobs. Despite these statistics being reflective of a promising start, both ministers recognized that there remains substantial potential for growth in bilateral economic cooperation.
Mr. Kombo highlighted, “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 also acknowledged the favorable business landscape in Tanzania, attributing it to the effective leadership of President Samia Suluhu Hassan, which has attracted interest from Egyptian entrepreneurs and investors eager to capitalize on opportunities in the country.
In conclusion, Egypt’s commitment to expanding investments in Tanzania across various sectors marks a significant step toward enhancing bilateral cooperation. The imminent inauguration of the Julius Nyerere Hydropower Dam underscores the collaborative efforts between the two nations to increase energy security and economic growth. As both countries seek to leverage their partnership, the potential for enhanced mutual benefits continues to grow, guided by a shared vision for the future.
Original Source: www.thecitizen.co.tz
