MUSCAT: The agreement was formalized by His Excellency Nasser bin Khamis Al Jashmi, Chairman of Oman’s Tax Authority, and His Excellency Dr. Mwigulu Lameck Nchimba, Tanzania’s Minister of Finance and Planning. The pact focuses on improving investment conditions, addressing double taxation, and increasing financial transparency between the two countries.
This agreement is expected to enhance bilateral economic relations by creating a more attractive environment for investors and offering protection from the financial burdens of double taxation. Both Oman and Tanzania aim to increase cooperation, trade, and investment, unlocking potential opportunities for growth and mutual prosperity.
As a result of this new partnership, both countries foresee increased economic activity, which will support the creation of new business ventures and joint projects. The agreement represents a significant step toward strengthening economic ties and enhancing mutual confidence between the two nations.
This partnership is part of Oman’s broader efforts to diversify its economy and build stronger international relationships. It also positions Tanzania as an emerging economic partner in East Africa, providing new avenues for collaboration and development.
