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Friday, July 12, 2024

Tanzania: An Investment Destination Jewel in Africa


Her Excellency, Dr.  Samia Suluhu Hassan, President of the United Republic of Tanzania invites investors to various sectors in Tanzania Economy including, power generation, Information and Communications Technology (ICT) development, like agriculture, construction and real estate, telecommunications, financial services, transportation, manufacturing, mining and petroleum, tourism, energy infrastructure, services and broadcasting. Tanzania is fast becoming one of the world’s best investment hub.

Tanzania GDP is steadily improving, from 4.8 percent in 2021 to 5.2 percent in 2022. The World Bank has projected that the country will have a growth of 6.2 percent in the next few years. Moreover, inflation has remained moderate as records show that in 2022 the inflation was at 4.3 percent while in 2021 the figures were recorded at 3.9 percent.

According to Her Excellency, Dr Samia Suluhu Hassan, by 2022, Tanzania’s value of registered Foreign Direct Investments (FDIs) stood at 4.5 billion US dollars, up from 1.4bn US dollars that were recorded in 2021.

These positive developments are predicated on favourable and predictable policies, laws and regulations as well as the peace and stability that forms the bedrock of Tanzania’s national values. Moreover, the Government’s determination to create conducive investment environment through the introduction of the new Tanzania Investment Act of 2022 and the review of existing Tax Revenue Act.

Furthermore, the continuous deliberate infrastructure development through the improvement of cargo handling capacity for the ports, construction of inter country railways, roads and airports construction across the country. As well as access to market in the EAC, SADC and AU regional blocs, for Tanzania products, all this and more makes Tanzania an investment destination jewel in Africa.  

Continue Reading: https://www.gccstartup.news/gcc/the-3rd-kuwait-and-arab-youth-forum-honors-dr-abu-ghazaleh/

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