AAAID explore agricultural investment opportunities in Tanzania

Date: 26 Jul, 2022

A number of visits and meetings with officials in the United Republic of Tanzania were conducted by H.E. the President of AAAID, H.E. Dr. Sidi Ould Tah, Director General of the Arab Bank for Economic Development in Africa (BADEA), H.E Eng. Saleh Alshanfari, CEO of Oman Food investment Holding Co. , H.E. Dr. Ghalib Said AL Saidi – Chief Executive Officer of Al Bashayer Meat Company, H.E Dr. Ahmed Aldkhyyal, Chairman of the Board of Directors of Trans Agri Holding Ltd, and the accompanying delegation during 18-21 July, 2022, in an effort to introduce AAAID’s projects, and identify the agricultural investment opportunities and benefits enjoyed by an investor in Tanzania, in which the country is keen to provide and facilitate investment benefits by preventing the imposition of taxes and customs on all investments that are under establishment, as well as encourage investment through establishing multiple foreign banks, in which currency rate is left for the market to determine through supply and demand.

At the outset of the visit, H.E. the President of AAAID and the accompanying delegation visited the Tanzania Investment Centre, which aim to facilitate businesses for investors, address obstacles and challenges, as well as identify available opportunities in the agricultural investment field. In addition, AAAID’s development and research activities, and the proposed investment opportunities in Tanzania were also discussed during the visit.

Furthermore, AAAID’s delegation met with the Deputy Minister of Investment, Industry, and Trade in Tanzania, who was given a brief introduction about AAAID and its development and research activities, besides discussing areas of collaboration, advantages of investment opportunities, and the provided services in Tanzania. A meeting was also held with the Managing Director of Tanzania Agricultural Development Bank, which operate with an aim to catalyze the development of agriculture sector in Tanzania by adopting the clustering and value chain financing approach of the smallholder farmers agricultural transformation strategy.

Several field visits were conducted by AAAID’s delegation and a handful of investors and investment companies in the industry and agriculture field in Tanzania, during which they inspected a number of agricultural lands and projects, and discussed means of joint cooperation to utilize the available investment opportunities in Tanzania. In addition, a visit was paid to the Central Bank of Tanzania, which aim to promote and develop the agricultural investment field in Tanzania by facilitating businesses for investors, and addressing the obstacles and challenges they face.

Lastly, AAAID’s delegation carried out a field visit to companies operating in the animal production field, in which they reviewed a number of agricultural lands and animal production projects, and discussed ways of joint collaboration.