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Monday, 28 February 2022

WHAT 36 NEW DUBAI EXPO 2020 DEALS MEAN FOR TANZANIA


The 36 Memorandums of Understanding (MoU's) were signed during the Tanzania Business and Investment Forum in Dubai and aim to generate investments worth 7.49 billion US Dollars (about 17.8 trillion Shillings) and create 204,575 jobs over the next four years.

The agreements were reached between the two governments and between private sectors from Tanzania and the UAE, in an event graced by the Tanzanian President Samia Suluhu Hassan.

Among key sectors which will benefit from investments are energy, agriculture, tourism, infrastructure, transportation, textiles, ICT, construction.

Twelve MoU's were signed between the Tanzanian government and investors, while 23 MoU's were signed between Tanzanian companies and various investors seeking joint ventures or collaboration in various sectors in the economy.

Similarly, one MoU was signed between Zanzibar's Ministry of Trade and Industrial Development and potential investors in the tourism industry, specifically in the area of conference tourism.

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