Tanzanian removes barriers hindering investment deals in bid to expand access to global markets

DAR ES SALAAM: THE Tanzanian government is moving to remove barriers that could delay or hinder business and investment activities as it seeks to expand Tanzania’s access to international markets and strengthen private-sector growth.

Minister for Industry and Trade, Judith Kapinga, made the statement in Dar es Salaam during the Invest EastAfrica meeting, which brought together representatives of 30 German companies, where she held talks with Germany’s Minister for Federal, European and International Affairs Manfred Pentz on strengthening economic ties between the two countries.

Speaking at the meeting, the minister said that the government is creating a more conducive business environment to enable Tanzanian and German companies to tap available investment and trade opportunities.

Elaborating, she stated that the measures are aimed at ensuring that unnecessary obstacles do not slow down the implementation of business and investment activities, while creating greater opportunities for the private sectors of Tanzania and Germany to deepen cooperation.

According to Ms Kapinga, expanding international trade and investment remains part of the government’s efforts to create opportunities for businesses while addressing challenges that could affect private-sector growth.

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For his part, Mr Pentz said Germany continues to value its longstanding relations and cooperation with Tanzania and East African countries, stressing the importance of translating ongoing discussions into concrete economic projects and opportunities.

He said continued engagement between the two sides will help advance areas of mutual economic interest and strengthen cooperation between German and Tanzanian businesses.

German Ambassador to Tanzania Annet Günther said Germany is seeking to strengthen regional cooperation with Tanzania, citing the country’s position in East Africa as an important opportunity for expanding economic relations.

She said Tanzania’s regional position will help create new opportunities for businesses and investors from Germany and strengthen links between the two markets.