US investors to commence two-day fact-finding mission to Tanzania next week

A section of business representatives from American companies are expected in Tanzania Monday next week for a two-day fact-finding mission.

The fact-finding mission will be held from September 27 to 28 in Dar es Salaam, Tanzania’s leading commercial capital, and Zanzibar, the attractive tourist island in the Indian Ocean. During this time, investment opportunities in Tanzania will be explored through various business ventures.

The United States Embassy in Tanzania and the U.S Commercial Service said in a statement that the participants in this fact-finding mission will visit Tanzania mainland and Zanzibar Island.

Nineteen American firms and others with significant U.S. operations or investments with a total market capitalization of over US$1.6 trillion will take part in the fact-finding mission in Tanzania. The firms will be investigating trade and investment potential in Tanzania for future cooperation and business ventures.

The missionis led by the USA Embassy in Dar es Salaam, in collaboration with the American Chambers of Commerce (“AmCham”) of Kenya, Tanzania and South Africa, and seeks to introduce American firms to the potentials offered by the Tanzanian markets.

“Our members are excited about the business potential and new opportunities opening up in mainland Tanzania and Zanzibar in agribusiness, energy, healthcare, infrastructure, ICT, manufacturing, and other industry sectors,” Mr. Maxwell Okello, the Chief Executive Officer (CEO) of the AmCham Kenya, said.

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The American business representatives will be seeking to better understand the Tanzanian market and how they can participate in the opportunities through the mission.

This will provide an excellent avenue to gather insights and engage directly with relevant government and private sector stakeholders.

“It’s also a great opportunity for both countries to explore ways to deepen their commercial ties and engagement which supports achievement of economic goals driving wealth and job creation,” Okello said.

During this two-day tour, company representatives will interact with government of Tanzania officials, receive US Embassy briefings, engage with Tanzanian private sector leaders, and receive insights from US firms operating in Tanzania.

Tanzania’s President, Samia Suluhu Hassan, had visited the United States in April this year on a mission to revive the tourism sector in Tanzania. The focus of President Samia’s visit to United States was to attract American investments mostly in tourism.

She said that her government was excited about the prospect of promoting further trade and investment ties for mutual benefits and was cognizant that she needed to create an easier path of doing business in Tanzania.

The Tanzanian president has put in place better conditions and a favorable environment for the private sector to thrive in Tanzania. She then requested the U.S. government to encourage more private business companies to invest in Tanzania.

Tanzania is home to some of the most famous safari treasures including Mount Kilimanjaro, the Ngorongoro Crater, Serengeti National Park, and the island of Zanzibar, all attracting thousands of American tourists every year.

President Samia then launched during her U.S tour, The Royal Tour Documentary to showcase Tanzania’s tourism potentials with recovery initiatives after the COVID-19 pandemic which had affected the tourism industry across the world.