A United Arab Emirate (UAE)-based company- GSG Energies is poised to invest $500 million in Tanzania, focusing on transport, mining, manufacturing, and petroleum product distribution.

This substantial investment is projected to generate over 3,000 jobs over the next five years.

Ismail Elagib, CEO of GSG Energies Tanzania, announced that the company's Board of Directors will soon visit Tanzania following President Samia Suluhu Hassan's visit to Dubai last year.

 “We advocate for a strategic partnership with Tanzanian government leaders to ensure the successful implementation of these projects, which will boost employment and contribute to the economic growth of this beautiful country,” said Elagib.

He further highlighted that this collaboration is expected to bring significant economic benefits and enhance Tanzania’s appeal as a destination for future investments.

President Samia Suluhu Hassan’s business trip to Dubai last November, where she also participated in the United Nations Climate Change Conference (COP28) from November 30 to December 12, has sparked increased interest from international companies in exploring and investing in Tanzanian sectors.

The United Arab Emirates (UAE) has been increasingly involved in various sectors of Tanzania’s economy, with significant investments in infrastructure, energy, tourism, agriculture, and more.

Many companies have been involved in major construction projects in Tanzania, including building airports, ports, and roads. Dubai-based companies have also invested in real estate projects in cities like Dar es Salaam.

On energy sector, the UAE has shown interest in Tanzania’s energy sector, particularly in renewable energy projects. 

Masdar, a renewable energy company from Abu Dhabi, has explored potential investments in solar and wind power projects in Tanzania.

The UAE is one of Tanzania’s key trading partners in the Middle East, with trade exchanges spanning agricultural products, gold, and petroleum products. 

The UAE has also worked with Tanzania to establish special economic zones to boost manufacturing and exports.

 In recent years, both governments have emphasized strengthening bilateral ties, with Tanzania seeking more foreign direct investment (FDI) from the UAE to support its industrialization and economic diversification goals.

Also, efforts are being made to increase Tanzanian exports to the UAE, including enhancing the production of agricultural goods, value-added products, and minerals. 

Tanzania is also looking to benefit from the UAE's logistical and transport hub status to access broader markets in the Middle East and Asia.