A high-profile delegation of 35 investors from Saudi Arabia is in the country to explore potential business opportunities and strengthen economic ties between the two countries.

Prof Kitila Mkumbo, the Planning and Investment state minister in the President's Office, said at the Tanzania-Saudi business roundtable in Dar es Salaam yesterday that the visit highlights the growing commitment to fostering investment and creating long-lasting economic partnerships.

This is a milestone in Tanzania's efforts to position itself as a leading investment destination in the region, he said, pointing at the country's strategic geographic location as an advantage for business ventures.

"Tanzania's geographical position offers both a cooperative and competitive advantage, our proximity to seven landlocked countries, means that we are a gateway to the larger East and Central African market. Our port is essential for these countries, and our location offers unparalleled access to major regional markets," he affirmed.

Tanzania’s growing economy, political stability and commitment to creating a business-friendly environment provide a solid foundation for investments.

"Tanzania is one of the fastest-growing economies in the region, offering vast opportunities across key sectors such as energy, agriculture, tourism, manufacturing and mining," he said.

He highlighted the government’s commitment to enhancing appropriate policies, reducing bureaucracy and fostering public-private sector dialogue as having been instrumental in creating a favourable business environment.

"Our legal framework is designed to protect and facilitate investments, ensuring that investors can rely on a stable and predictable business environment," the minister underlined.

Hassan bin Moujeb Alhuwaizy, head of the Saudi delegation, affirmed that Saudia has a growing interest in Tanzania's agricultural sector, pointing at the meat trade between the two countries as having seen considerable growth.

 "In the last two years, exports of meat from Tanzania to Saudi Arabia have doubled, from $6m to over $12m," he stated, asserting that this growth trajectory shows successful collaboration in the agricultural and livestock sectors.

Saudi investors are also keen to explore further opportunities in the livestock and slaughterhouse industries, he elaborated, pointing at the huge demand for livestock in the Golf Zone country.

“We are ready to invest in establishing modern slaughterhouses to ensure high-quality standards for food exports," he added.