The General Authority for Investment and Free Zones (GAFI) hosted the African Investment Forum (AIF) – Egyptian Industries on Tanzanian Land, with the participation of over one hundred Egyptian industrial institutions. El Sewedy Industrial Development, a subsidiary of Egyptian electrical company El Sewedy Electric, unveiled plans for the new El Sewedy Industrial City in Tanzania, spanning 2.6 million square meters, attracting investments exceeding $400 million from regional investors. This initiative is set to create fifty thousand job opportunities and significantly contribute to Tanzania's industrial development strategy for 2025, with a focus on key sectors such as pharmaceuticals, building materials, food and beverage, and engineering industries. The city also includes the El Sewedy Academy for Technical Education and Vocational Training to enhance the skills of the Tanzanian workforce. Situated in Kibaha, Tanzania, this project benefits from proximity to the Kwala Dry Port and the Rovos Standard Gauge Railway, facilitating efficient transportation.
In line with strengthening Egyptian-Tanzanian relations, GAFI and Tanzanian Investment Center are working together to explore partnership opportunities and leverage their respective countries' competitive advantages. Tanzania's favorable investment environment, abundant natural resources, and access to a substantial consumer market of 60 million people make it an attractive destination. Egypt's expertise in real estate and infrastructure development is of particular interest, while Tanzania's expanding infrastructure projects have reduced production costs, resulting in Egyptian investments totaling $1.3 billion since 1997. El Sewedy Electric plays a pivotal role in this cooperation, with ongoing projects like the Julius Nyerere Hydropower Plant and Dam and cable, transformer, and electrical component factories. The collaboration aims to foster increased investment and trade between the two nations, strengthening Tanzania's role as a strategic hub for regional economic growth.