Tanzania, Feb 8 – The fifth session of Iran – Tanzania economic forum is set to kick off in March 8, and will conclude the following day this year. The international conference will take place in at International Institute of Social History, Amsterdam, Netherlands.
The two parties have been in regular talks with Iran now plotting a move to invest in the oil and gas sector in Tanzania.
Good investment regulations have caught the attention of sovereign state Iran, with the Western Asia state keen to take advantage of the investment opportunities in the East African country Tanzania.
The Islamic Republic is keen to discuss business with Tanzania, particularly interested in the oil and energy sector. The power house in Middle East is a partner to be reckoned with in the industry who could help Tanzania harvest handsomely from the natural resource it possesses.
The government has been on the forefront of cleaning the air for a conducive business environment to lure more investor in the country. This has paid off with entrepreneurs enquiring of opportunities to take hold of. The greatest milestone was regulating taxes that had set businesses in disarray.
Mr Mousa Farhang, Iran’s Ambassador to Tanzania, has backed up the potential in carrying out business in Tanzania as the African country has favorable business policies that positions it as a great investment hub. Despite a few challenges to be addressed that include unreliable infrastructure that makes transportation hectic, the country’s economic status could benefit from potential investors.
The two parties, Iran and Tanzania trace their relationship back in the days where they had penned oil agreement contracts that has catapulted them this far. They would seek to strengthen the bilateral ties should Iran make a move to set up necessary business plans in the state.
Oil trade is one of the most profitable activities countries can enjoy, as the commodity sets a number of precedence in the economic status. They determine the currency value and strength, price of commodities and influence the trend of trade in the international market.