US firms invest 26.3tri/- in Tanzania
DAR ES SALAAM: UNITED States investments in Tanzania have surpassed 10 billion US dollars (about 26.3tri/-), with a further 40 billion US dollars (about 105tri/-) worth of projects in the pipeline, officials said mid this week as Tanzania and the United States celebrated the 250th anniversary of American independence. Speaking at a commemorative event hosted … The post US firms invest 26.3tri/- in Tanzania first appeared on Daily News. The post US firms invest 26.3tri/- in Tanzania appeared first on Daily News.
Black News 
DAR ES SALAAM: UNITED States investments in Tanzania have surpassed 10 billion US dollars (about 26.3tri/-), with a further 40 billion US dollars (about 105tri/-) worth of projects in the pipeline, officials said mid this week as Tanzania and the United States celebrated the 250th anniversary of American independence.
Speaking at a commemorative event hosted by the US Embassy in Dar es Salaam, Deputy Minister for Foreign Affairs and East African Cooperation James Ole Millya said growing investment flows demonstrate the strength of economic ties between the two countries.
He said American capital is currently deployed across strategic sectors including energy, mining, manufacturing, tourism and financial infrastructure, while several major projects are under consideration.
“We are satisfied with the significant expansion of commercial and investment cooperation between our two countries,” Mr Millya said.
The deputy minister highlighted increasing American participation in Tanzania’s minerals sector, including a recent agreement between the government and Panda Hill Tanzania Limited to accelerate production of niobium, a critical mineral used in advanced industries.
He also identified tourism as one of the fastest-growing areas of cooperation, noting that more than 143,000 American tourists visit Tanzania annually.
Mr Millya encouraged US investors to explore opportunities in tourism infrastructure, including safari lodges, resorts, transport services and leisure facilities.
Reflecting on the occasion, Mr Millya drew parallels between the history of Tanzania and the United States, saying both nations were shaped by leaders and citizens who fought for freedom and self-determination.
He paid tribute to George Washington, Abraham Lincoln and Franklin Roosevelt, describing them as leaders whose vision helped strengthen democracy and expand freedom.
The deputy minister also highlighted Tanzania’s own liberation history under founding leaders Mwalimu Julius Nyerere and Sheikh Abeid Amani Karume.
The anniversary celebrations also provided a platform for American officials to outline a new direction in bilateral engagement focused on investment and commercial partnerships.
US Chargé d’Affaires Andrew Lentz said Washington is moving away from the traditional donor-recipient model that has characterised development cooperation for decades and is instead pursuing partnerships centred on trade, investment and joint problemsolving.
“We are moving beyond old models and daring to innovate together,” Mr Lentz said.
He revealed that Tanzania and the United States are developing a new health cooperation framework under which the two countries will jointly invest in strengthening Tanzania’s healthcare system, including hospitals, laboratories and health workforce development.
The diplomat also disclosed that discussions are underway to finalise major commercial agreements involving American companies that could create jobs, introduce advanced technologies and support Tanzania’s Vision 2050 development agenda.
Mr Lentz said long-term economic growth depends on stability, the rule of law and an environment that encourages innovation and private sector development.
The celebrations brought together government leaders, diplomats, military officials and business executives to mark 250 years since the signing of the American Declaration of Independence.
Both officials expressed optimism about the future of Tanzania-US cooperation, particularly in trade, investment, health and security.
“The future is ours to write. Let’s write it together,” Mr Lentz said.
The post US firms invest 26.3tri/- in Tanzania first appeared on Daily News.
The post US firms invest 26.3tri/- in Tanzania appeared first on Daily News.
