The Tanzanian government has invited Turkish investors to invest in strategic sectors including infrastructure, energy and agriculture as part of efforts to accelerate economic development and strengthen diplomatic cooperation between the two countries.
The call was made by the Minister of Finance, Hon. Ambassador Khamis Mussa Omar (Mb), when he met with the Turkish Ambassador to the country, Hon. Dr. Bekir Gezer, accompanied by a delegation from the Turkish EXIM Bank, at the Sub-Office of the Ministry of Finance, in Dar es Salaam.
He called on Turkey to participate in the construction of transport infrastructure, especially in the construction of Lot 3 and Lot 4 of the Standard Gauge Railway (SGR), which the Turkish EXIM Bank has shown interest in financing, as they are important parts in connecting the railway network that is being built from Dar es Salaam to the interior of the country and neighboring countries, which will stimulate regional and international trade.
“The completion of this SGR project will enable Tanzania to become a hub for transport and trade in the East and Central African region, and will open up investment opportunities in the areas surrounding the railway and create a corridor for economic development”, said Ambassador Omar
He added that in the energy sector, Tanzania has made great strides by increasing electricity production from 1,700 megawatts to over 4,000 megawatts within the past few years, following the completion of the Julius Nyerere Hydropower Project and the Government aims to increase this production to 8,000 megawatts by 2030 and eventually to 1,000 megawatts by 2030. 15,000 and called for more investment from Turkey including Exim Bank through the Public Private Partnership (PPP) system.
Ambassador Omar explained that Tanzania has great opportunities due to its fertile land resources and water sources and can learn from Turkey’s experience in transforming the sector from conventional to modern production using modern technologies and helping Tanzania achieve its goal of becoming a food bank in Africa.
For his part, the Turkish Ambassador to Tanzania, Dr. Bekir Gezer, said that Tanzania and Turkey are brotherly countries with long-standing relations built on the foundations of trust, friendship, solidarity and mutual respect.
Dr. Gezer, said that Tanzania is of great importance due to its political and economic stability as well as its abundance of natural resources, and its geographical location makes it an important hub for trade and transportation, a situation that attracts not only Turkey but also other countries in the world in terms of investment.
He added that through institutions such as the Turkish EXIM Bank and its companies, the country is ready to continue collaborating with Tanzania in projects development for mutual benefit.
The session was also attended by the Commissioner of the Government Debt Management Department, Ministry of Finance, Mr. Japhet Justine, the Assistant Commissioner of the Government Debt Management Department, Ministry of Finance, Ms. Tiba Kisonga, the Acting Director of the Department of Europe and America and the Ministry of Foreign Affairs and East African Cooperation, Ms. Ellen Mahudu.
Others are the Chief Executive Officer of Standard Chartered Bank, Mr. Herman Kasekende, the Director of Project Finance and International Relations of the Turkish EXIM Bank, Ms. Hatice Ürkmez, and other senior officials of the Ministry of Finance and the Turkish EXIM Bank.
