US Vice President Kamala Harris during her visit to Tanzania expressed her thoughts about Tanzanian young entrepreneurs and how hopeful the partnership between Tanzania and America will promote economic investment, resulting in job creation and increased GDP.
Arrival of Kamala Harris in Tanzania
Harris in a recent tweet she said “The young entrepreneurs I met in Tanzania give me great hope about the future of the” world. Their creativity is driving great innovation that will benefit all of us.
Also, the memorandum of understanding between the Export-Import Bank of the United States and the Tanzanian government is expected to facilitate up to $500 million in financing to help US firms export goods and services to Tanzania. Tanzanian President Samia Suluhu Hassan requested better visa processing between the countries to promote trade and tourism.
The new partnership in 5G technology and cybersecurity and the adoption of low-emission standards in minerals processing project under LifeZone Metals are expected to promote economic growth in the region. According to the Tanzanian business community, the move by the US government is an effort to reduce China and Russia’s growing influence in African countries.
“We hope this new partnership between Tanzania and the US will lead to more innovation and improve the living standards of Tanzanians,” said Zephaniah Abrahams, CEO of Tanzanian-based tech company, TechZone.
Harris’ visit is viewed by the Tanzanian People as a positive step towards building economic bridges between the two countries. The memorandum of understanding and other initiatives are expected to help unlock Tanzania’s potential and opportunities for the local population.
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