However, a statement from the Directorate of Presidential Communication that was circulated to the media yesterday did not disclose the number of US firms investing in the country so far. But according to reliable data from the Tanzania Investment Centre, the US is among the best four to five foreign investors in Tanzania.
He said Tanzania has the capacity to accommodate some more USD4.5bn (roughly 7.4trn/-) from more American firms.
“There is no doubt that there are investors and businesspersons who have invested in the country. However, we are sure that the investment and business done can be more than the way they are now,” said the President in the statement.
Kikwete mentioned some of the sectors that American firms can quickly invest in as oil and gas exploration, mining, agriculture and agro-processing industries, industrialisation in general, ICT, production and supply of electricity.
Other areas include construction and running of ports, construction of railway lines, especially the central corridor and the tourism sector.
Apart from investment opportunities, Kikwete said Tanzania is very peaceful and secure country, has conducive investment environment, good geographical position and a huge market position as it is both in the East African Community (EAC) and Southern Africa Development Community (SADC).
In addition, President Kikwete said Tanzania has more ability to do more business with the Americans than is the case now when the transactions only stand at USD328.8m (roughly 541.2bn/-).
The statement came in lieu of the first ever and historical US-African Leaders Summit that is prepared by President Barack Obama which starts in
Washington DC today.
At least 47 African nations are scheduled to take part in the meeting that ends on Wednesday this week.
President Kikwete’s statement was released along with the official Tanzania national statement on the summit.
“During the meeting between American and African leaders, I join my fellow African leaders in applauding President Obama for his creativity in preparing such a historical meeting for the leaders. The summit is a clear indication of the US President’s intention to strengthen relations with Africa and America’s contributions towards economical and social developments and eradicate poverty in the continent,” the statement said in part.
According to President Kikwete, the meeting gives a chance to African leaders to tell positive stories about developments that the African continent has registered – in social, economic, political and security arenas.
He said the summit also offers a special platform for African continent to give a detailed explanation to US businesspersons on the business and investment opportunities available on the continent.
Meanwhile, President Kikwete arrived in Washington DC on Saturday for a nine-day tour during which he is going to take part in US-Africa Leaders’ Summit.
Apart from the said Summit, Kikwete who is accompanied by the First Lady, Mama Salma Kikwete will visit Dalla in Texas, where he is going to meet the 43rd US president, George W. Bush before heading to Houston.
While in Houston, Kikwete will hold a strategic business meeting with various famous businesspersons for oil and gas before winding up his trip.
Among other things, Mama Kikwete will attend a meeting for Africa First Ladies together with the US’ First Lady, Michelle Obama. Former US First Lady Laura Bush will also be in attendance.
Mama Kikwete will also attend the meeting for First Ladies for SADC and later meet with Tanzanian women residing in Washington DC, Maryland and Virginia.
SOURCE: THE GUARDIAN
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