TAKE a walk into any government institution and don’t be surprised with handshakes, hospitality and all styles of welcome as civil servants warmly welcome you to share your feelings and work you have at hand. That is Tanzania in the Fifth Phase Government.
This is the order of the day as the country tries to woo both local and international investors who are out to invest their businesses under a win-win situation.
According to TIC Executive Director, Geoffrey Mwambe, the government has removed all bottlenecks that were hindering smooth setting up of new investments, hats off to the regime.
It is worthy to applaud the fact that today a new investor is capable of completing all processes of acquiring all documents necessary for him/her to establish a business in the country within three days.
The fact has been reinforced by an edition - “Where to Invest in Africa 2018, RMB’s Investment Attractiveness Index” that states that Tanzania has jumped to the seventh slot from the ninth position it was placed before.
Tanzanians should be proud that today the country is amongst the ten fastest growing economies in the world, pegging its growth rate at 7.2 per cent and leading in East Africa in terms of investment attraction.
Any genuine investor who does not like ‘shortcuts’ both within and the international community should not listen to unfounded hecklers and in turn come en masse to invest in the country that is peaceful, besides institutions, including TIC that will ensures that your business is conducted freely without regrettable loopholes.
Backing the school of thought with a data, Mr Mwambe has presented the situation that for the past two years Tanzania has registered investments worth 1.35 billion US dollars, equivalent to 3trl/- followed by Uganda that registered investments worth 537 million US dollars, down by almost half of what Tanzania recorded in the same period.
Equally, Dr Hilderbrand Shayo, an expert in economy is promising investors who want to conduct their business in a transparent and accountable manner that Tanzania is the right place unless one is fond of ‘cutting corners’, refusing to adhere to the laws, rules and regulations.
By and large, efforts being taken by the Fifth Phase Government of restoring discipline and sanity in all sectors of the economy and rooting out corruption will see into it that investors feel at home away from their homes. It is your turn to invest in Tanzania, ‘karibu’ Tanzania.