Egypt Enhances Investments in Tanzania to Fortify Bilateral Relations

Egypt has announced plans to expand its investments in Tanzania, focusing on sectors such as technology, education, health, agriculture, and infrastructure. This initiative stems from a recent visit by Foreign Affairs Minister Dr. Badr Abdelatty. He highlighted the nearing completion of the Julius Nyerere Hydropower Dam, which is expected to be pivotal for Tanzania’s energy security and investment landscape. Both nations see significant potential in their partnership and aim to enhance bilateral cooperation.

Egypt is set to augment its investments in Tanzania, currently acting as its eighth-largest foreign investor with a total of $1.367 billion in investments, generating roughly 3,800 jobs. Recent efforts to strengthen the bilateral relationship focus on sectors such as technology, education, health, agriculture, and infrastructure, marking a significant step towards enhanced collaboration between the two nations.

This initiative was announced during a two-day visit by Egypt’s Foreign Affairs Minister, Dr. Badr Abdelatty, alongside leading Egyptian business executives. A central point of the visit was to establish the launch date for the nearly complete Julius Nyerere Hydropower Dam, a multi-billion dollar project anticipated to revolutionize Tanzania’s energy landscape and lead to further investment opportunities.

The inauguration of the dam is imminent, with Egyptian President Abdel Fattah el-Sisi planning to attend due to the collaborative efforts between the nations in its development. Dr. Abdelatty asserted, “We aspire for the relationship between Tanzania and Egypt to set a benchmark for brotherhood and cooperation among Nile Basin countries.”

The dam is hailed as a flagship venture in African infrastructure cooperation, enhancing energy security in Tanzania and inviting more investments in critical sectors. Dr. Abdelatty emphasized Egypt’s steadfast dedication to the project, describing it as a “model for African cooperation,” noting that strategic discussions between the countries underscore this partnership.

During these discussions, Tanzanian Foreign Affairs and East African Cooperation Minister, Mr. Mahmoud Thabit Kombo, remarked, “This is a pivotal moment. We are not just discussing trade; we are reinforcing a historic relationship with a vision for the future.” Despite current investment figures being promising, both ministers acknowledged they are modest in comparison to the potential of their economic partnership.

Mr. Kombo further noted, “The time has come to expand our partnership,” emphasizing the immense opportunities available between the two nations. Dr. Abdelatty pointed to Tanzania’s favorable business environment as a result of President Samia Suluhu Hassan’s leadership, which has attracted a growing interest from Egyptian investors and entrepreneurs keen on exploring opportunities in the country.

In summary, Egypt is intensifying its investments in Tanzania, particularly in key sectors such as energy and infrastructure, aiming to strengthen bilateral ties that date back for centuries. The Julius Nyerere Hydropower Dam embodies this commitment and is poised to significantly enhance Tanzania’s energy capabilities. Both nations recognize the vast potential for economic cooperation which, backed by supportive leadership, is expected to foster a prosperous relationship in the future.

Original Source: www.thecitizen.co.tz