TIC: Tanzania BRN projects attract giant US investors

Tanzania Investment Centre (TIC) has said that the country has managed to attract giant United States’ investors in mining, maritime, tourism, agribusiness, oil and gas sectors.
This emerged recently during a breakfast networking meeting between Tanzania senior government officials, Chief Executive Officers (CEOs) of Tanzania private sector and the CEOs of America's largest corporations held in Washington DC recently. 
The breakfast meeting which was organised by TIC in collaboration with the DC Lobbying powerhouse Squire Patton Boggs was attended by more than 75 CEO'S from US corporations including (Fortune 500 CEOs) and was held on the sidelines of President Barack Obama’s US Africa Leaders Summit.
During the meeting, Tanzania managed to present 35 projects which are part of the Big Results Now (BRN) initiative.
In addition, US companies engaged in construction, hospitality agro-industries, manufacturing, chemical industries, and financial services committed to sending follow up missions to Tanzania before the end of this year to engage.
Speaking at the meeting, TIC Executive Director, Juliet Kairuki underscored in detail the advantages of investing in Tanzania and the value propositions it offers as the gateway to East Africa. 
“TIC believes that engaging US Multinational Corporations and convincing their leadership to increase their budget commitments towards research and business development in Tanzania will contribute to increased appetite on the part of US firms to invest or increase their support towards US investors already in Tanzania,” she said.
“Through engaging discussions with our ministers and leadership from other government owned entities, it is our hope that Tanzania will receive more investments from the US which in turn will lead to greater prosperity for the people of Tanzania through creation of new jobs, greater tax revenues as well as skills and technology transfers. For this reason, Tanzania is committed to ensuring that it creates and maintains a conducive business climate with supportive economic policies that attract investment from US investors,’’ added Kairuki.
Thanking the ministers and investors who were present at the meeting, Ambassador of Tanzania to the United States, Liberata Mulamula said Tanzania's favorable investment climate, especially the regionally competitive fiscal regime, geographical location, economical and political stability is ideal for US investors to venture in the country.
Tanzania continues to perform strongly against competitor countries in East Africa. It is currently ranked among top ten most attractive business locations in Africa as per RMB statistics of 2013. 
United Nations Conference on Trade Development (Unctad) statistics also reveal that in 2013, Tanzania attracted USD1.9bn in Foreign Direct Investment (FDI) inflows, outstripping its neighbours, Uganda and Kenya, which only received USD1.1bn and USD514m of inflows respectively for the same period, making Tanzania the largest recipient of FDI in East Africa.

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