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Investors, come en masse Tanzania doors are opened

Investors, come en masse Tanzania doors are opened

WHILE gracing the Tanzania Day at the Expo Dubai on February 26th 2022 in the United Arab Emirates (UAE) and recently in Oman, President Samia Suluhu Hassan has precisely repeated that Tanzania wants investors to come en masse and invest locally, and this in a nutshell implies that the country’s doors are opened for business. Right!

Her school of thought was that, just like any part of the world, Tanzania can not operate in isolation, but must welcome foreigners to invest their capital, skills and all sorts of development designs this country still requires.

It should be known that once a respectable multinational company inaugurates a new project in a developing country like Tanzania, it is usually a cause for celebration- especially when the project won’t hurt the environment and in turn creates jobs to the locals, and pays taxes and brings needed foreign currency.

The list may be long and more subtly their better technologies will spread with their knowledge, hence, it should be a warning to any local staff, who would try to be an obstacle to investors that this tantamount to fighting development.

Whichever way one may look at it, any public servant official who tries to block the spirit of welcoming investors by enacting for them unnecessary bureaucracy or red tape is simply an enemy of the people, in another because the government in power is for the people, of the people and by the people.

If in doubt, think of an international clothing company coming to your village to set up a factory and export the products, or a mining giant breaking ground near your village to mine for gold and sell it abroad.

Obviously, they will generate benefits that go beyond their own businesses- in technical jargon; they generate “spill-overs” for the rest of the village and the country’s economy.

So, what the sixth phase government is doing is for the general benefit of the people to attract “foreign direct investment,” so that every citizen gets the spill-overs.

Local entrepreneurs ought to also know that today, most foreign investment is linked to something called “global value chains,” that is an idea that most of the products that consumers buy-say, cars- are made up of parts and designs produced in different countries and shipped across borders to a final assembly site, in another word would guarantee them ready market.

Because of low capacity and capitals, local entrepreneurs ought to know also that joint-ventures between them and the foreigners will make them also realize faster spill-overs than projects paid and run only by themselves.

This is an advantage that local entrepreneurs should fully tap and also join the government to woo investors from outside, who probably also know better markets from their countries of origins than the locals.

 

Investors, come en masse Tanzania doors are opened

WHILE gracing the Tanzania Day ...

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Author: EDITOR

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