THE United States has reiterated its commitment to see more companies from Washington invest in the country.
The US Ambassador to Tanzania, Mr Donald Wright, reaffirmed his country’s commitment to developing two-way trade and investment between Washington and Dar es Salaam.
“We are excited to see more and more US companies exploring the Tanzanian market for trade and investment opportunities,” Amb Wright said during the launch of the US-based RE/MAX Coastal Realty’s office in Dar es Salaam.
Ambassador Wright said each time a US business opens its doors in Tanzania it makes the two countries bilateral relationship “just a bit stronger” each year.
“The commercial relationship is a vital element of the sustained ties that we have enjoyed between our two countries,” Mr Wright said.
The coming of RE/MAX franchise to Dar will eventually lead to US companies needing assistance finding commercial and residential real estate to support their business operations.
“I was pleased to hear that Zanzibar has recently announced a programme that will allow foreign investors to more easily take advantage of tax and residency benefits for investments on the islands.
“These types of policies continue to make Tanzania and Zanzibar more attractive to US investors,” said Mr Wright.
The government of Zanzibar, one of Africa’s most prized travel destinations has announced a new tax and residency programme for foreigners wanting to live and invest in the island.
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The latest measure comes on the back of significant infrastructure and tourism-friendly initiatives that allowed the idyllic Tanzanian region to weather much of the storm brought on by the Covid-19 pandemic in 2020.
According to the Office of US Trade Representative website, the US goods trade surplus with Tanzania was 203 million US dollars in 2019, a 13.8 per cent decrease (33 million US dollars) over 2018.
RE/MAX, a powerful international brand founded in Denver, Colorado in 1973, on Wednesday, opened its office in Dar es Salaam.
The real estate firm focuses on rental and sales of residential, commercial and luxury real estate with more than 32 years of combined experience in the sector.
RE/MAX Coastal, Owner and Director, Stephi Hill Said revealed that they are looking forward to using their expertise and passion for real estate to help community members find their perfect property investment.
“It is our plan to assist in reducing the vacancy rates in Dar es Salaam,” she said adding: “I am also a firm believer in the RE/MAX capacity building programme that provides the opportunity for Tanzanian youth to get started on their entrepreneurial journey through a new career.”
The RE/MAX Tanzania Regional Director, Mr James Prevost, said there was an increase in interest by foreign investors, creating a growing demand for residential and commercial real estate in Dar es Salaam.