Posted on :Monday , 27th February 2023
Two more United Arab Emirates companies have made in-roads into Tanzania, following President Samia Suluhuâ€™s trip to the Gulf country last year to seek business.
On 6th February, the Tanzania Forest Services Agency (TFS) and UAE-based Blue Carbon LCC announced a joint environmental conservation programme to promote sustainable forest management practices while reducing greenhouse gas emissions.
It came after state-owned Emirates National Oil Company (ENOC) on 27th January signed a MoU with Tanzania's Ministry of Energy to invest up to $500 million in expanding the national imports gateway for fuel products and related storage facilities.
President Samiaâ€™s administration has made the UAE a top target of its international economic diplomacy agenda since she assumed power 2 years ago. During an official visit to Dubai in February 2022, she made a personal appearance at the Expo Dubai festival where 36 bilateral MoUs were signed between Tanzania and UAE authorities for total investments of $7.49 billion.
The deals involved energy, agriculture, infrastructure, tourism and transport technology sectors. Tangible results of that trip have so far included a $500 million deal for Dubai-based logistics firm DP World to improve ICT and other infrastructural systems at Tanzaniaâ€™s seaports and another agreement for UAE renewable energy firm Masdar to oversee the development of up to 2GW of renewable energy in Tanzania.