U.S firms pump $5.04 Billion of investment in Tanzania, to create an estimated 301,110 jobs

BY DIRAMAKINI

PRESIDENT of United Republic of Tanzania, Samia Suluhu Hassan on Friday witnessed the signing of seven agreements for business projects to be implemented in Tanzania by investors from United States of America.

The deals with key private sector companies in the United States worth a total of $5.04 Billion are expected to create an estimated 301,110 jobs in agriculture, tourism, trade and othe sector of the economy.

President of United Republic of Tanzania, Samia Suluhu Hassan witnessing the signing of FE Jordan & Associate of the United States in partnership with Tanzanians to enter into an agreement with the Ministry of Investment, Industry and Trade to initiate a process for the development of a Special Economic Zone.

President Samia witnessed the signing of Memorandums of Understanding (MoUs), letters of intent and announcements to initiate negotiations on investment, trade and business relations bet wen United States and Tanzania in Washington DC. (Photo by State House).

According to Director of President Communication (State House), Zuhura Yunus other projects will target maximization of value chain activities within the Northern Circuit of Tanzania tourism industry by modernizing the promotion, services and diversification of tourism products.

President Samia also witnessed important announcements for United States based companies that have interests and plans to engage in Tanzania ecomonic business and trade relations. Including Upepo Energy ans Astra Energy Crane Currency and parallel wireless.

Among other engagements, President Samia also attend the Executive Business Round table at the United States Chamber of Commerce headquarters in Washington DC, which brought together members of the business community, government and representatives of the private sector from both countries to discuss mutual investment, trade and business.