The United Republic of Tanzania

TANZANIA INVESTMENT CENTRE





The government is committed to work on the investment challenges in close collaboration with the private sector and other development partners .


September 2020: The Government met with private sector representatives to collect views as part of the ongoing Review of the National Investment Policy of 1996 and Investment Act of 1997 at a conference was organized by the Prime Minister’s Office (PMO) in collaboration with Tanzania Private Sector Foundation (TPSF) in Dodoma.

 

Introduction of Investment Act 1997 resulted in the creation of the Tanzania Investment Centre (TIC) under which the country has witnessed a massive increase in both Domestic Direct Investment (DDI) and Foreign Direct Investment (FDI) flows.

 

Despite a number of successes since the Investment Policy was introduced, the sector still faces challenges in facilitating both local and foreign investments. Challenges are in different areas of investment coordination, promotion, facilitation, regional and international intergration, land for investment, investment financing and incentives, and technology transfer.

 

To accommodate regional blocs such as the East Africa Community (EAC), Southern African Development Community (SADC) and the envisaged Africa Continental Free Trade Area (AfCFTA) negotiations, the Government believes it needs a better investment policy in attracting investments.

 

“As a country we need suitable and better investment policies to attract more investments. It is through investments that we can fully exploit the potentials available in intra-regional trade,” Director of Planning and Budgeting (PMO Office –Investment), Mr. Packshard Mkongwa explained.

 

During the same meeting, Dr. Jumanne Gomera (PMO Office –Economist) added: “to address the challenges and improve the investment climate in the country, the government is committed to work on the challenges in close collaboration with the private sector and other development partners”.

 

Speaking as a representative of the private sector, Tanzania Private Sector Foundation (TPSF) Acting Executive Director, Zachy Mbenna, highlighted on the need for the country to have an improved Investment Policy which focuses on maximizing opportunities for attracting investors from all over the world for the country’s social and economic development.

 

The meeting brought together members of private sector which included institutions such as TPSF, Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA) and the Confederation of Tanzania Industries (CTI).









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