Investing In Tanzania
The social-economic liberalisation policies and institutional reforms in Tanzania have created an enabling environment for private investors. The government has withdrawn from running business. Its role is now that of a policy co-ordinator and regulator. It is encouraging the establishment and expansion of the private sector, which it recognises as the engine for economic development and sustainability.
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It has therefore privatised and continues to privatise its parastatals through the Consolidated Holding Corporation (CHC). The government implements a revised policy on investment and has formulated regulatory measures in the financial and trade sectors to complement the current investment policy measures.
Some of the economic advantages of operating in Tanzania include:
A stable, democratically elected government which is committed to establishing a free market economy on the basis of well worked out programs of reforms agreed with the IMF and World Bank.
The government's policy program of structural reform is underway and signs of improved economic rates of growth are visible. The Tanzanian shilling is convertible to US dollars and other major international currencies within Tanzania; Numerous multilateral funding institutions are active in Tanzania, including the World Bank, the International Monetary Fund, the International Finance Corporation and the Commonwealth Development Corporation.
Tanzania is a signatory of the Multilateral Insurance Guarantee Agency (MIGA) for protection of foreign investments from non-commercial risks.
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Tanzania enjoys an abundance of natural wealth that offers tremendous investment opportunities for investors. These include an excellent geographical location; (six land locked countries have access to Tanzania ports); arable land; excellent tourist attractions (Ngorongoro, Serengeti, Kilimanjaro and the spicy Islands of Zanzibar); natural resources, a sizeable domestic and sub-regional market, a wide local raw material supply base, inexpensive labour, political stability and a suitable market policy orientation.
Important tips for start-ups ...
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