The Israel Ambassador, Yahel Vilan told the Prime Minister, Kassim Majaliwa in Dodoma yesterday that the summit, to be held later this year, would be an opportunity for business leaders from Israel to explore trade and investment opportunities in Tanzania, according to a statement from the Prime Minister's Office.
The Israel envoy hailed the government for execution of its activities which include sustaining strong macroeconomic performance and restoring discipline in the public sector.
The fifth phase government under President John Magufuli has been praised by Western donors for an anti-corruption drive and cutting wasteful government spending since coming to power in 2015.
Mr Majaliwa told the Israel envoy that Israel investors were welcome to invest in various sectors including agriculture. He also invited Israelis to visit Tanzania as tourists to see for themselves what is making Tanzania an attractive tourists destination in the East African region.
The Premier said the government would continue to cherish warm bilateral relations that would be used to boost trade and investment relations between the two countries.
Israel ranks in the top 18 nations in the world on the UN's Human Development Index, which places it in the category of "Very Highly Developed"— the highest ranked in the Middle East, allowing the country to enjoy a high standard of living rivaling other Western countries such as Austria, France and Finland. The major economic sectors include high-technology and industrial manufacturing.
Relatively poor in natural resources, Israel depends on imports of petroleum, raw materials, wheat, motor vehicles, uncut diamonds and production inputs, though the country's nearly total reliance on energy imports may change with recent discoveries of large natural gas reserves off its coast on the one hand and the leading role of the Israeli solar energy industry on the other.
Source: DailyNews
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