President Kikwete Promotes Additional US Investments In Tanzania

President Jakaya Kikwete is joining 47 of his fellow African leaders on a three-day US-Africa Leaders Summit in Washington, DC where they will meet with US President Barack Obama to discuss strategies for economic development and poverty reduction on the continent and where President Kikwete will encourage additional US investment in Tanzania.

According to President Kikwete, while the current value of American investment in Tanzania stands at USD 328.8 million, the capacity exists to accommodate an additional USD 4.5 billion across several growing Tanzania business sectors including oil and gas exploration, agriculture and agro-processing industries, mining, Information and Communications Technology (ICT), the supply and production of electricity, and other general construction and industrialization projects in the country’s transportation and tourism sectors.

 “There is no doubt that there are investors and business persons who have invested in the country,” said President Kikwete in a statement, “However, we are sure that more investment and business can be done.”

In addition numerous Tanzania investment opportunities, President Kikwete explained that the country’s investment climate is calm and conducive to business with a central location in Africa as a member of both the East African Community (EAC) and the Southern Africa Development Community (SADC).