Two more United Arab Emirates companies have made in-roads into Tanzania, following President Samia Suluhu’s trip to the Gulf country last year to seek business.
On February 6, 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 January 27 signed a memorandum of understanding 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 Samia’s administration has made the UAE a top target of its international economic diplomacy agenda since she assumed power two 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, tourism, infrastructure 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 Tanzania’s seaports and another agreement for UAE renewable energy firm Masdar to oversee the development of up to 2GW of renewable energy in Tanzania.
Oil terminal project
Tanzania also reached a formal agreement with UAE authorities in September last year to remove double taxation hurdles in mutual trade, investment and social interactions including labour payments, education exchanges (student bursaries) and sports matters.
A preliminary MoU for the latest oil terminal project was signed between ENOC Group CEO Saif Humaid Al Falasi and Tanzania’s Energy Minister January Makamba in Dodoma on January 27 and ministry officials later said formal negotiations would start “soon” on the project requirements and a detailed implementation framework.