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Browsing: investment in Tanzania
- Tanzania Investment Centre (TIC) targets to register 1,000 investment projects in 2024
- The government of Tanzania is also revising the immigration law to draw diaspora investors.
Tanzania Investment Centre (TIC)
From changing harsh taxing practices to revising the foreign direct investment environment – the Tanzania Investment Centre (TIC) is significantly making notable efforts to make the East African nation investor-friendly.
On Tuesday, July 16, TIC displayed its ambitious goal of attracting nearly $10 billion in capital investments in 2024.
The new target comes seven months later after the government of Tanzania introduced a new campaign to increase investment to around $14 billion attributed by locals.
Tanzania’s investment trajectory took an uplift witnessing 504 projects worth $5.2 billion in 2023 an increase from $3 billion previously.
According to TIC executive director, Gilead Teri, the ambition eyes building impressive growth in foreign and domestic investments for five consecutive years, factored by favourable …
- In their letter dated June 26th, 2024, High Commissioners and Ambassadors from 10 countries expressed their dissatisfaction with how the Tanzania Revenue Authority (TRA) handled taxation issues related to investors from their countries.
- The French Embassy acknowledges the contribution to attracting and expanding quality international investment into Tanzania.
- Tanzania has attracted a stock of over $3.87 billion of investments from India, with a total of 675 projects and over 61,000 jobs delivered, making India one of the Top 5 investors in India.
Foreign Investors Challenges in Tanzania
“We are writing to express our concerns regarding both recent and ongoing challenges faced by foreign investors in Tanzania,” said a letter by a group of Ambassadors representing the United States, the United Kingdom, the Kingdom of Netherlands, France, Belgium, Canada, Korea, Sweden and Germany obtained by The Exchange, in part.
According to the letter addressed to January Makamba, Minister of Foreign Affairs …
The government is already working on all issues facing Dangote’s factor on President Suluhu’s directives. This means Tanzania is reshuffling its strategies and operations along the investment lines, to keep up with the rest of the region far ahead of her.
As a country that graduated to a low-middle-income level much more effort towards building sound and attracting an investment environment is required.
The current small achievements prove that there is more coming from President Suluhu’s administration in terms of advancing more foreign investment in the country.…