The United Republic of Tanzania

TANZANIA INVESTMENT CENTRE



TANZANIAN INVESTMENT CENTRE CEO DISMISSES ACCUSATIONS ON POLICIES SCARING INVESTORS AS GROUNDLESS.



TANZANIA Investment Centre Executive Director Mr. Geoffrey Mwambe has dismissed the accusation raised by the FT reporter Mr. John Aglionby on Tanzanian policies scaring investors as baseless allegations and unfounded assertions made about to damage the reputation of Tanzania as the premier investment destination in East Africa.

The FT News reporter created quotations and attributed them to Mr. Aliko Dangote to propel his story and push his unknown agenda and upset the good work of government to continue serving Tanzanians, he said. “We believe that in the interest of fairness and justice the reporter should have balanced the story instead of providing a malicious statement aimed at nothing but frustrating our Investors.

Dangote Industries has invested in Manufacturing and when problems arised the company has been receiving government support accordingly, example on securing coal and gas supplies necessarily to lower production costs. We don’t believe that Mr. Dangote is a spokesperson for extractive industries in Tanzania where there is well established stakeholders dialogue between the government and the private sector. We believe the reporter used Mr. Dangote comment to pursue his agenda against continued efforts by the current government to improve business environment and peoples livelihoods.

The government of Tanzania embraces the contribution of investors like Mr. Aliko Dangote in our economy and TIC believes that the reporter was using innuendo and falsehood to discredit our investment environment without any just cause. The attempt to cast the business environment in Tanzania in a bad light in view of its policies which have been discussed and approved by the Parliament for the benefits of Tanzanians and the private sector is an example of a disingenuous form of journalism.

When challenges emerge in investment projects the Government has always been in forefront to address those challenges in order to ensure that businesses are not affected. TIC has established a National Investment Facilitation Committee that brings together all CEOs of government entities that service investors in order to ensure that investors problems are addressed in timely manner.It is important to note that when Dangote Industries Limited was experiencing challenges in accessing coal and in connecting its cement plant with the natural gas pipeline, H.E The President intervened and it was resolved to the satisfaction of DIL.

We are proud of our President, HE Dr. John Pombe Magufuli who has gone great length to illustrate the commitment of the government and steps he has taken to address corruption in the country something which the reporter has failed to address for unknown reasons.

However, it is crucial to understand that the responsibility of setting best policies which will be beneficial to both the investor and the country is a top priority for the Fifth Phase Government. We need the private sector to play its role and pay taxes and the government to reciprocate by facilitating them and provide the best services.

What Tanzanian Government is calling upon is for investors to do their part. While the government is enhancing transparency, fighting against graft (corruption) and promotes good governance, investors are encouraged to undertake their businesses with high level of integrity, commitment and compliance to the laws governing their respective sector policy, institutional and regulatory regimes. This will help the country achieve its long-term development goals as well as creating a sustainable business profits.

However, it is crucial to understand the law against nationalization and expropriation which is well stipulated under the Tanzania Investment Act of 1997. The Act recognizes and provide protection to private investment against any forms of expropriation. Tanzania is an active member of the World Bank’s Multilateral Investment Guarantees Agency (MIGA) and a member of The International Centre for Settlement of Investment Disputes (ICSID).

Tanzania continues to promote investment and engage Multinational Corporations to increase their commitments towards their business development in Tanzania and this has contributed to the increased appetite on the part of multinational firms to invest or increase their support towards Tanzania.

Throughout the year we have continued to receive more investment which in turn will lead to greater prosperity for the people of Tanzania through creation of new jobs, greater tax revenues as well as skills and technology transfers. For this reason, Tanzania is committed to ensuring that it creates and maintains a conducive business environment with supportive economic policies that attract investment.

Thanking the Investors who have invested in Tanzania, TIC Executive Director added Tanzania like many other countries will continue to strive to improve investment climate, especially the legal and regulatory framework, administrative reforms especially reduction on the number of procedures, competitive fiscal regime etc.

To ensure sustainability of investment environment, the Government has given priority to the development of support infrastructure in order to reduce costs of doing business. Notably, the government has prioritized Stiegler’s Gorge Hydro Power project, construction and rehabilitation roads networks, rehabilitation of port infrastructure (Berth 1-7), development of a new airport terminal (Terminal III) at JNIA, construction of Central Railway Line to standard gauge, to mention the few. Other initiatives includes establishment of Land Bank Fund at TIC to ease process of acquisition of land for investment purposes and modernization of BRELA business registration system.

Tanzania continues to perform strongly against competitor countries in East Africa. “Tanzania currently ranked among top ten most attractive business locations in Africa as per RMB statistics of 2017. As per world Investment Report 2017, Tanzania is the largest recipient of foreign direct investment (FDI) in East Africa” remarked Mr. Geoffrey I. Mwambe.

Tanzania Investment Centre (TIC) in collaboration with the Ministry of Foreign Affairs and East Africa Corporation and the Embassy of Tanzania in China, are pleased to invite local companies/entrepreneurs to a business forum to be held in Guangzhou China on 16th October 2017. The Business Forum will coincide with the Canton Fair 2017 Guangzhou China whereby companies/entrepreneurs from China are expected to attend. The forum will attract all sectors but below are the main sectors that will dominate the forum discussions; - Manufacturing, Agriculture and agro processing , Mining , Transportation , Energy, Manufacturing, Construction , deep sea fishing, telecommunications, water, information technology, infrastructure, Telecommunications, Oil and Gas. The China Tanzania business forum at Canton Fair will be a good platform for local companies to meet with counterpart from China and other countries to discuss various business opportunities they can do together. Companies are advised to prepare detailed profiles of their projects for easy promotion and marketing. Interested participants will be required to register prior to the event through TIC.

Please note

  • Participants will be required to register prior to the event and cost for Air Ticket and accommodation need to be covered by the participant.
  • A tentative program and other information will be sent to you immediately after confirmation.
  • For registration please send an email to forum@tic.co.tz For further details please contact (Latiffa Kigoda on 0715734444 / latiffa.kigoda@tic.co.tz)
  • Or call TIC on Tel. number 2116328/31 Item; China - Tanzania Business Forum.


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