Saudi Arabia. On Friday, December 20, at the Business and Investment Forum in Riyadh, Tanzania and Saudi Arabia took a major step in strengthening their partnership by agreeing to establish a joint team of experts.
This team will work closely to evaluate existing development opportunities and propose new projects to be funded, that will benefit both nations for years to come.
The evaluation process of past projects, which helped secure funding from the Saudi Fund for Development, has already shown the positive impact of these investments on Tanzania’s development and laid the foundation for future collaborations.
Acknowledging past contributions
In his remarks, Tanzania’s Minister for Finance, Dr Mwigulu Nchemba, expressed gratitude for the ongoing support and the impactful projects already funded by the Saudi Fund for Development.
He highlighted how these projects have greatly contributed to Tanzania’s development, improving critical infrastructure and social services.
Dr Nchemba thanked the Saudi Fund for its unwavering commitment to Tanzania’s growth and outlined several significant projects made possible by this collaboration.
“We are deeply thankful for the Saudi Fund’s continued support, which has been crucial in advancing our national development agenda,” Dr Nchemba stated.
The tangible results of these projects—such as the rehabilitation of the Mara Water Project($15 million), the Same-Mwanga-Korogwe Water Project ($25 million), and the expansion of Mnazi Mmoja Hospital in Zanzibar ($15 million)—have already made a lasting positive impact on the lives of our citizens, providing much-needed improvements in water access, healthcare, and infrastructure.
Dr Nchemba also pointed out other critical contributions, such as the Rural Roads Construction in Zanzibar($11.4 million) and the power line construction project from Benako to Kyaka ($105.4 million).
These projects, he said, have not only improved accessibility, but have also laid the foundation for future economic development and regional integration.
A new chapter: Focus on evaluation and proposals
Looking ahead, Dr Nchemba emphasized that the creation of the joint expert team marks the beginning of a new chapter in the partnership.
“By carefully evaluating the opportunities before us, we can ensure that the future projects we pursue are aligned with the needs of both our nations and the evolving demands of the region,” Dr Nchemba continued.
He added: “This team will provide invaluable insight as we work together to create new avenues for trade, investment, and social progress.”
Strategic focus for sustainable growth
This team will play a pivotal role in identifying priority areas for investment in sectors like renewable energy, infrastructure, and industrial development, laying the groundwork for more projects that will contribute to sustainable and inclusive growth.
In his response, Mr Sultan Al-Mashard, the Executive Director of the Saudi Fund for Development, reiterated the fund’s commitment to Tanzania’s development.
He affirmed that the Saudi Fund would continue to support the long-term growth of Tanzania through strategic, high-impact projects, in line with both nations’ broader economic goals.
“Saudi Arabia is committed to partnering with Tanzania for a brighter future,” Mr Al-Mashard said.
Adding: “Through this expert team, we are confident that we will be able to identify projects that will not only benefit Tanzania but will also enhance our mutual cooperation for the years ahead.”
