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Why Invest in Tanzania

The following aspects are among the major reasons why foreign investor should come and invest in Tanzania:

  • Investment Security

High degree of investment security because of an unparalleled political stability that is strife-free, non-existence of ethnic divisions, democratic rule that respect diversity opinion and a strong tradition of constitutionality and rule of law.

  • Macro-economic Stability

Business-friendly macro-economic stability with low inflation (4.3% - 2006), stable exchange rates, supported by unrestricted and unconditional transferability of profits, loan repayments, emoluments, royalties, fees and charges.

  • Favourable Geographical Location

Tanzania is a corridor to SADC countries and a member of the East African Community (EAC). It is particularly an entrance to six landlocked neighbour countries. Marketing is therefore not limited to East Africa, but possible for East Africa (almost 90 million people), SADC (300 million people), EU (through Everything But Arms initiative), US market through the African Growth and Opportunity Act (AGOA) window, and Chinese market through Special Preferential Tariff Agreement with China. In all these markets products from Tanzania receive either relatively low tariff or tariff free treatment.

  • Simplified Bureaucracy

This has been streamlined through the Tanzania Investment Centre (TIC) – www.tic.co.tz , which is the one-stop facilitation government agency entrusted to promote, coordinate and facilitate investments in Tanzania.

  • Supportive Policy Framework

Successful economic liberalization measures commended by both the World Bank and the IMF, with business-supportive legislations continually improved through genuine dialogues between the government and the private sector.

  • Incentives

Tanzania offers a well-balanced package of incentives to investors with additional negotiated benefits to strategic investors.

  • Investment Guarantees and Settlements of Disputes

Investments in Tanzania are legally guaranteed against political risks, nationalization and expropriation. Tanzania is a member of Multilateral Investment Guarantee Agency (MIGA), International Centre for Settlement of Investment Disputes (ICSID), and the International Chamber of Commerce.

  • Abundant Natural Resources

Tanzania is endowed with abundant natural resources ranging from arable land, mineral resources and tourist attractions. Tanzania has nearly 95 million hectares of land, out of which 44 million hectares are classified as suitable for agriculture. However, up to now, only 23% of arable land is under cultivation.
Regarding minerals, Tanzania boasts of an abundance of a wide variety of minerals such as gold, diamond, iron ore, coal and natural gas. Others include: A wide variety of gemstones, including the all conquering Tanzanite that is found only in Tanzania, and oil deposits that have recently attracted many oil prospecting investors.
In addition to the above, Tanzania is home to the following major attractions among many more others: -

  • Kilimanjaro, the highest mountain in Africa;
  • Zanzibar, the legendary Spice Islands that offer an unlimited range of fascinations;
  • Ngorongoro Crater, the African Eden and “Eighth Wonder of the Natural World” offers the only opportunity on Earth of viewing the widest range of wildlife interacting both positively and negatively in a natural setting, within the confines of a caldera akin to a natural zoo; and
  • An array of national parks and game reserves like the famous Serengeti and its fascinating migration of animals declared the new Seventh Wonder of the World, the Olduvai Gorge, home of Homo habilis, present man’s immediate ancestor and the still pristine Selous Game Reserve.

These tourist attractions apart from recreational purposes, offer investment opportunities in a wide range of businesses such as hotels, amusement parks, wildlife farming and air and ground transport.

  • Favourable International Rating
    • Top Class Reformer

Tanzania has been ranked among top ten reformers of business regulations amongst 175 economies of the world covered in both the 2006 and 2007 surveys. According to the World Bank sponsored Doing Business 2006 and 2007 Reports, Tanzania performed extremely well in the reforms of business regulations in the following indicators: -

      • Staring a business
      • Registering property
      • Protecting investors
      • Trading across boarders
    • No. 1 Investment Destination in Africa

Tanzania was rated number one investment destination in Africa with the highest sales growth by the UNIDO Africa Foreign Investor Survey, 2003.

  • Investor Confidence

According to a survey conducted by TIC, the Bank of Tanzania (BOT)www.bot-tz.org and the National Bureau of Statistics (NBS), 71% of existing foreign investors in Tanzania expressed desire and readiness to expand their businesses. Only 10% were considering contraction.

  • Confidence of World Class Bankers

Major banks such as Standard Chartered, ABSA, Barclays, Citibank, Stanbic, and Exim have established branches in Tanzania and provide full banking services, including credit to investors.

 

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