When the people of Minnesota think about Tanzania, whether they have heard about it, they most likely visualize the grand Mountain Kilimanjaro or the amazing Serengeti National Park which is the most renowned wildlife habitat in the whole world.
Although we wish that you visit or bring your loved ones and friends to those places, there is another side of Tanzania we would like you to explore. It is a place with an estimated population of Forty five million, one third of whom are in the age bracket of 15 to 35 years and make up a developing and able labor force.
This nation has an economic development rate of 7 % and is one of the twenty fastest- developing economies on the planet. Tanzania is two times the size of the state of California. Additionally it is the fastest- expanding market within East Africa with Exports made to the U.S.A in 2013 reaching 420 million US dollars an increase of 71 % above 2012.
Exports made from Minnesota increased almost 50 % to 5.6 million dollars within the same period. Just as several other African countries, Tanzania is getting steady democracy together with economic stability. Last summer when President Obama visited this country to some degree to boost business plus trade relationships between the USA and Tanzania
President Obama’s visit was well-timed since China, India along with other countries are creating crucial business investments, especially in the extraction of natural resource, that assist finance local development initiatives. At the moment, Minnesota has a number of strong connections with Tanzania.
Thomson Reuters together with Cargill conduct business there, while General Mills is associated with several food projects. With regards to the educational side, 220,000 books were shipped into Tanzania by St. Paul Books for Africa a year ago; which is the 4th greatest total in any country. Ever since its launching in 1988, 3.4 million books have been shipped by Books for Africa to Tanzania. In total, over 30 million books have been shipped to forty nine different African countries by Books for Africa.
Construction plus infrastructure development have grown to be a lot more crucial following the discovery of huge deposits of natural gas. Tanzania along with its East African neighboring countries (Uganda, Ethiopia plus Kenya) are urbanizing quicker than what are known as BRIC countries (China, Brazil, India plus Russia), that has created a far greater requirement for infrastructure development. When we talk of Telecommunications technology as well as the higher use of mobile phones, usage of land lines has eventually become less required. An additional area which requires investment plus some help is access of electricity.
The U.S. Congress is taking into consideration the Electrify Africa Act of 2013, a bi-partisan attempt to ascertain a policy which could help sub-Saharan Africa to build up a combination of power solutions to extensively distribute electricity as a way to scale down poverty as well as push for economic development.
At the moment, just 24 % of the people staying in Tanzania can access electricity, a serious hindrance to development. With enhanced access, nonetheless, double-digit economic development could be accomplished. Tanzania plus the remainder of East Africa signify the next frontiers of substantial economic growth.