Tanzania is one of 10 fastest growing economies in Africa. For the past 10 years, the country’s economy grew at an average of 7 percent. In July 2020, Tanzania was officially promoted to a lower-middle-income country by the World Bank. These achievements can be attributed to political and economic stability, good and predictable policies as well as peace and tranquility.
Tanzania offers a tremendous range of opportunities in all sectors; however, the government is prioritizing on key sectors such as Agriculture, Mining, Tourism, Manufacturing, Agro-processing, Pharmaceuticals, Real Estate and Livestock & Fishing.
The 6th phase government under H.E. President Samia Suluhu Hassan is determined and committed to opening up the country to the global economy through improved investment climate, mega infrastructures development in order to accelerate the smooth flow of the Foreign Direct Investments (FDIs) and Domestic Direct Investment (DDI) for the social and economic prosperity of Tanzanians. The government has been undertaking major legal and regulatory reforms in a quest to make Tanzania one of the best investment destinations on the continent. These reforms, which, cut across the board include tax regime, automation of investment procedures and processes, harmonization of institutions, land laws as well as unlocking hurdles that impede business growth.
By 2022, all villages in Tanzania will have access to electricity. This will guarantee investors to set up their businesses in any corner of the country. The construction of the US$3 billion Nyerere Hydro Electric Dam with the capacity to produce more than 2,000 megawatts will also guarantee investors with an affordable and reliable supply of electricity. The Construction of a new electric powered Standard Gauge Railway (SGR) from Dar es Salaam Port linking Uganda, Rwanda, Burundi and the DRC is a game changer which is expected to greatly improve efficiency and slash cargo transport cost by 40%.
As member of the African Continental Free Trade Area (AfCFTA), we believe that with efficient transport systems, reliable and affordable electricity coupled with friendly regulatory regime, Tanzania is offering the best opportunity for investors to excel.
Apart from being strategically located, Tanzania offers unbeatable markets for investors in the East African Community with six countries, Southern African Development Community (SADC) as well as preferential trade agreement such as AGOA with the USA and trade partner with major trading countries and regions such as China, Japan, India and the EU.
Tanzania is committed to upholding democratic values, good governance, human rights and freedom of speech as key ingredients of our tradition rooted in the belief that if we want to reach far, we must work together with others, while upholding ethos of the international community.
Welcome to invest in Tanzania the land of endless opportunities!