Tanzania: A competitive global investment destination.
Posted on : Thursday, 22nd January 2015
THE good investment environment in Tanzania has enabled the country to take the lead in attracting Foreign Direct Investment (FDI) in the East African Region by USD1.1 billion (1.76 trillion/-) in 2012.
And President Jakaya Kikwete has reiterated the country's commitment to attract more investors by offering a peaceful and stable environment for business and investments.
In a speech read on his behalf by the Minister for Finance, Ms Saada Mkuya, at the opening of the Federation of Gulf Cooperation Council Chamber's Investment Forum (FGCCC) held in Dar es Salaam yesterday, the president insisted that Tanzania is the most potential country for investments in Africa.
He told the audience that his government will continue to strengthen the Tanzania Investment Centre (TIC) on the Mainland and the Zanzibar Investment Promotion Authority (ZIPA) in the isles, which are catering for local and foreign investors and investment information dissemination.
Mr Kikwete said he was delighted that during his term, Tanzania has become a competitive global investment destination. "We have what it takes to be an attractive investment country, including skilled human resources, potential market for goods, abundant untapped resources, and services in all sectors, among others," he added.
The president elaborated that Tanzania has largely completed its transition to a liberalised market economy, with a close follow-up in telecommunications, banking, energy and mining sectors.
On his part, Tanzania's Ambassador in Oman, Mr Ali Ahmed Saleh, said that the two countries enjoyed cordial relations for a long time, adding that the forum aims at developing the Gulf-Africa relations in general and the Gulf-Tanzania relations in particular.
The forum has jointly been organised by the Federation of GCC Chambers and Arab Bank for Economic Development of Africa (BADEA).
The forum will also address the best ways to increase the volume of joint investments and raise the volume of trade exchange between the two sides, especially in the most promising projects.
These will be submitted to GCC investors by Tanzania in which most prominent projects and investment opportunities will be provided by local consultants and specialists.
The forum will also discuss investment and cooperation opportunities in other areas, including manufacturing, infrastructure, energy, agriculture and food security in Tanzania.
