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Bush`s visit to Tanzania to promote investment
2008-02-03 11:02:10
By Staff Writer Imani Lwinga
It is nice to hear that US President George Bush is coming to Africa. It is even more pleasant news that on his second visit to Africa, he will have a notable stop to Tanzania, before going to Benin, Rwanda, Ghana and Liberia.
According to the US Ambassador Mark Green, President Bush`s visit to Tanzania has to do with at least three tangible reasons. The first is to cement the growing relations with Tanzania, ``which are becoming stronger``.
Secondly, Bush is coming to intensify the US commitment in fighting AIDS and malaria. By the end of this year, the US will have provided $818.4 million to Tanzania to fight Aids through the US President’s Emergency Plan for Aids Relief (Pepfar).
The third reason, the president is coming to Tanzania is to promote investment. He takes into account the country`s strong leadership, stability and peace as vital factors for Tanzania’s promising future.
With the advent its new foreign policy of Economic Diplomacy, Tanzania has been exploring a more intensive cooperation on the economic front.
Tanzania Investment Centre (TIC) has been organising trips to the US for the business community.
According to TIC Executive Director Emmanuel Ole Naiko, these trips have enabled local business people to strike joint venture deals with their US counterparts.
President Jakaya Kikwete himself has more than once been accompanying these delegations.
Tanzania National Business Council (TNBC), a public-private member institution chaired by the President and Co-chaired by the president of Tanzania Private Sector Foundation (TPSF) has occasionally expressed the optimism of Tanzania as an investment destination south of the Sahara.
There is so much that Tanzania can offer to the American people. Tanzania is a vital destination for tourists with spectacular tourist attractions like the rich Serengeti, and Ngorongoro, Mount Kilimanjaro - Africa`s highest peak - and the spice island of Zanzibar, among others.
Tanzania needs more joint venture projects in sectors such as commercial farming, energy, trade and human resources. Although the US has opened up market opportunities for Tanzanian products as is the case with some other African countries under the African Growth and Opportunity Act (AGOA), Tanzania has failed to utilize the market due to low production capacity. However, this is an area where the US can considerably help the nation as most of these products that fall under AGOA would boost the Small and Medium Enterprises.
On the other hand, the US has become an important development partner, particularly through the recently introduced Millennium Challenge Corporation (MCC) from which Tanzania is to get $698 million for investment in roads, power and water.
The US is Tanzania`s largest donor, having pledged $662 million this year.
Yet another strategic opportunity awaits Tanzania as one of the single major global gatherings will convene its conference in Arusha next June.
The week-long 8th Sullivan Summit will host nearly 3,000 of Africa`s Diaspora, mostly from America and nearly 30 African heads of state, corporate executives, policy makers and academics who will discuss areas of cooperation and planning for infrastructure, investment, tourism and the environment across Africa.
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