Africa-Press – Tanzania. THE Tanzanian government has called on foreign investors to bring in large-scale and strategic investments, while stressing that it does not welcome those intending to engage in small-scale businesses that compete with local entrepreneurs.
The call was made today in Dar es Salaam by the Minister of State in the President’s Office (Planning and Investment), Professor Kitila Mkumbo, during a press briefing on preparations for the second phase of the Business and Investment Environment Improvement Program.
Professor Mkumbo stated that the government does not expect to see a foreign investor coming into the country to open a shoe shop or sell tomatoes. Instead, he emphasized, investors should bring substantial capital and implement major projects that will significantly contribute to the national economy and create employment for Tanzanians.
He added that the next step involves meeting with various business and investment stakeholders across 16 regions in Tanzania, grouped into different zones. The goal is to gather their views and recommendations on areas that need improvement to enhance the efficiency of business and investment operations.
Regions to be included in the consultation process include Arusha, Dodoma, Mwanza, Kigoma, Mtwara, and Dar es Salaam. These regions will serve as hubs for gathering feedback from a wide range of stakeholders, including small and large entrepreneurs, local and foreign investors, ordinary citizens, and employees from both the public and private sectors.
“Our aim is to ensure we receive comprehensive input from all businesspeople and investors so that the strategy being developed aligns with their expectations and ambitions. We also aim to attract more strategic investors, both domestic and international,” said Prof. Mkumbo.
He further urged business associations and investor groups across the country to actively participate by providing their insights on how to improve the business and investment climate.
Meanwhile, Professor Faustine Kamuzora, Chairperson of the team responsible for developing the strategy, noted that the government has been implementing the first phase of the Business and Investment Environment Improvement Program for the past six years. This phase is expected to conclude in December this year.
Professor Kamuzora said that an assessment of the program has already been conducted, revealing notable successes as well as challenges. The government now plans to build on these successes in the next phase while addressing the existing challenges.
The overarching aim of the program is to strengthen the national economy by creating a more conducive environment for business and investment, thereby making Tanzania a more attractive destination for global investors.
For More News And Analysis About Tanzania Follow Africa-Press
