DAR ES SALAAM, Feb 13 (AGCNewsNet) – Saudi Arabia has secured concession and acquisition rights for Tanzania’s Bagamoyo Port through an agreement granted to the Saudi African Investment and Development Co. (SADC), the Saudi Press Agency reported.

The acquisition forms part of SADC's "East Gateway Project," which focuses on strengthening economic ties with the East African region. The initiative is expected to enhance Saudi Arabia’s global economic influence, attract foreign investments—especially in Africa—and expand its logistical network for Saudi exports.

During the Saudi-Tanzanian Business Forum, supported by the Federation of Saudi Chambers of Commerce, Saudi Arabia underscored its commitment to deepening economic partnerships with Zanzibar and exploring broader investment opportunities across the continent.

Bagamoyo Port, strategically located on Africa’s east coast, is set to become a key trade gateway for Tanzania and its neighboring countries. It will facilitate the export of African raw materials and natural resources while streamlining the import of goods into Africa. The deal is expected to significantly boost regional trade and reinforce Saudi Arabia’s role in global logistics and commerce.

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