The Tanzania Times
Eastern Africa News Network

Tourism to Benefit as US firms Pump 12 Trillion/- worth of Investments in Tanzania

Top US firms envisage pumping investment capitals worth USD 5 billion into Tanzania, creating over 300,000 jobs in the process.

The Northern Zone Regions of Arusha, Manyara and Kilimanjaro will specifically benefit from the envisioned ambitious ventures in travel and tourism industries.

In her recent tour in the United States, President Samia Suluhu Hassan witnessed the signing of seven agreements for business projects to be implemented in Tanzania.

The deal was hatched between Tanzania and various investors in the United States of America.

An official statement from the Director of Presidential Communications at the State House, Zuhura Yunus, reveals that contracts with key private sector companies in the United States are valued at USD 5.04 billion.

That translates into nearly 12 trillion in Tanzanian currency. The proposed investments by those private American Companies focus in Trade, Tourism and Agricultural sectors.

Geita Municipality in the Lake Zone. Some investments in Trade and Agriculture will boost employment

In between them, the US based foreign direct investments are expected to create an estimated 301,110 jobs in agriculture, tourism, trade and other sectors of the Tanzanian economy.

President Samia Suluhu witnessed the signing of memorandums of understanding (MoUs), letters of intent and announcements to initiate negotiations on investment, trade and business relations between U.S. companies and Tanzania in Washington D.C.

Other projects will target maximization of value chain activities within the Northern Circuit of Tanzania’s tourism industry by modernizing the promotion, services and diversification of tourism products.

President Samia also witnessed important announcements for US based Companies that have interests and plans to engage in Tanzania economic business and trade relations.

The firms include Upepo Energy and Astra Energy Crane Currency and Parallel Wireless.

Among other engagements, President Samia is also attending the Executive Business Roundtable at the U.S. Chamber of Commerce headquarters in Washington D.C.

The occasion brings together members of the business community, government and representatives of the private sector from both countries to discuss mutual investment, trade and business opportunities.

You might also like

Comments are closed.