A delegation of investors from 15 big companies of Saudi Arabia is in a 2 days visit Tanzania with the aim of finding opportunities of investment in various industries.
While in the country, the 20 man delegation, among other things, will take part in a business forum, which is to take place at the New Africa Hotrl in Dar es Salaam.
After the forum there were talks between Tanzania business persons and their counterparts from Saudi Arabia.
The forum, which is jointly coordinated by the association of Tanzania business operators and the Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA), will offer opportunities to the forum participants to listen to different subjects about the countrys investment opportunities, attractions, laws and regulations from institutions that coordinate the issues of investment including the Tanzania Investment Centre (TIC).
The visit by the deceleration is one of the strategies of implementing the policy of the Ministry of Foreign Affairs and East African Cooperation focusing on the diplomatic economy and aiming to induce investment in the industrial sector.
The strategies aim at fulfilling the resolve of the Fifth Phase Government of Tanzania under His Excellency Dr. John Pombe Magufuli, the President of the United Republic of Tanzania.
The Tanzania Governments resolve is to turn Tanzania in a country of industries and the middle income econ Peace and political stability, economic stability, endowment in natural resources, investment guarantees as well as strategic location and access to market were some of the impetus for investors to come in Tanzania.
Not only that but also there were exemptions on project capital goods, including zero import duty on semi-finished goods as well as 25 per cent import duty on final consumer goods or finished commercial goods.
