- A 19-member US business delegation will be, in Dar es Salaam and Zanzibar City from September 27 to 28. It has been reported that US investors are set to explore investment opportunities of around US$1.6 trillion during the visit.
Tanzania -US economic ties are set to gain new momentum weeks after the visit of President Samia Suluhu Hassan to the US to seek investment in a wide range of sectors. A 19-member US business delegation will be, in Dar es Salaam and Zanzibar City from September 27 to 28. It has been reported that US investors are set to explore investment opportunities of around US$1.6 trillion during the visit.
The foreign direct investments from the US. to Tanzania was around US$1.5 billion in 2019. The potential areas identified for investment in Tanzania, include oil and gas, real estate, manufacturing, telecommunications and so on. Several US businesses have shown interest in Tanzania’s energy sector. The companies include Wind Energy, Astra Energy, Crane Currency, and Parallel Wireless.
Maxwell Okello, CEO of the American Chamber of Commerce, Kenya that the chamber members are keen to seek new opportunities opening up in Mainland Tanzania and Zanzibar in agribusiness, energy, healthcare, infrastructure, ICT, manufacturing and other industry sectors.
Also read;
https://trendsnafrica.com/tanzania-invites-investments-in-large-scale-farming-of-sunflower/
https://trendsnafrica.com/tanzanian-president-meets-with-us-vice-president-kamala-harris/
Both countries will also explore opportunities to enhance bilateral trade. The two-way trade between the US and Tanzania was around US$462 million in 2019. The trade balance was heavily in favour of the US with exports amounting to US$33 million, while imports at US$130 million. The principal exports to the US included agricultural produce, minerals and textiles.
