Tanzania is a country with a wealth of untapped investment potential. A stable political climate, a young and rapidly growing population, and abundant natural resources well-position Tanzania for sustained economic growth. Additionally, its strategic location in East Africa makes it an ideal hub for trade and commerce. As a gateway to the wider region, it creates access to significant markets and opens up even more potential opportunities for investors. Recognising that bolstering investment in Tanzania is an invaluable opportunity for both investors and for the social and economic development of the country, the Sixth-Phase Government has prioritised efforts to reinvigorate foreign and domestic investment by actively taking steps to improve the general investment climate. These steps have included: continuing to curb corruption, revitalising the freedom of the press and of political parties, relaxing labour and immigration requirements to accommodate expatriate workers in specialised fields, implementing a robust tax collection system that is procedurally and substantively fair and attractive from an investor perspective. Other steps the government has taken are: shifting away from forceful and aggressive tax collective tactics, harmonising investment laws and policies to reduce duplicative licencing and permitting requirements so as to ease market entry and expansion for investors, and empowering the Tanzania Investment Center as the primary channel for investment into the country which consequently streamlines access to fiscal and non-fiscal investment incentives. The cumulative effect of these efforts, some of which are still in the process of being implemented, is steadily increasing investor confidence, as evidenced by a number of large-scale investments across sectors and the return of mining and oil gas majors, among others, to the negotiating tables. According to the most recent reports from the Tanzania Investment Centre, investment into the country in 2022 was triple that in 2021, and 2023 is already showing signs of exponential growth compared to the same period in 2022. In summary, Tanzania remains a top investment destination to consider in Africa. We hope that this investment guide is valuable to you as you explore opportunities in the country and navigate the relevant local nuances.
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