World`s leading investment bank JP Morgan Chase has agreed in principal to finance the second annual Tanzania Investment Forum scheduled for New York City next month, Tanzania Private Sector Foundation executive director Evans Rweikiza has said.
Addressing journalists in Dar es Salaam, Dr Rweikiza said assurance of the funding will pave way for effective participation of the local business community in the international forum that seeks to explore opportunities in the US.
``The decision by the bank to sponsor is good news to us. It will open up more space for the Tanzanian business community to participate in such important meeting,`` Dr. Rweikiza said.
He added: ``It`s high time therefore for business people to work on their business profiles and effectively use this opportunity to expand their businesses.``
``Let`s go to America and explore their business potentialities.
This is a golden chance for us who are still growing in the competitive business world,`` Dr. Rweikiza told Tanzanian business persons.
The business mission to the US, he said, will help to sharpen business skills among delegates from the local business community and even come up with viable business contracts.
For her part, Chief Executive Officer of Azania Holdings Tanzania Ltd, Mymoena Davids, an American consultant in the trade mission, said the forum would offer a good opportunity to educate US giant investors to invest in Tanzania.
She underscored vast Tanzania?s business and investment opportunities and potentials but of which she said were still untapped.
Mymoena also explained that JP Morgan Chase-the leading investment bank was among the financial institutions which had shown interest to work with Tanzanian business players.
``Going to US will help Tanzanians to outline their project profiles with that bank and other giant investors,`` she observed.
According to Mymoena, the trade mission would focus on assisting Tanzanian companies wishing to enter into the US market for the first time as well as assisting companies there wishing to invest in Tanzania.
?The mission will also help participating firms gain market information, make business and government contacts, solidify business strategies and advance specific projects all geared towards the goal of increasing trade and investment between Tanzania and the US,`` she noted.
She added: ``The delegation will comprise Tanzanian firms representing a broad cross section of local industries looking for buyers, distributors, partners, investors and US products.?
Senior officials from TPSF, Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA), Tanzania Investment Centre (TIC) and Tanzania National Business Council (TNBC) will lead the delegation at the seven-day forum expected to commence beginning September 16, this year.
SOURCE: Guardian
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