Govt outlines plans to make TZ the best investment destination

Dar es Salaam. Industry, Trade and Investments minister Charles Mwijage has said it was high time Tanzania highlighted its investment opportunities before the international stage in a bid to enhance its business climate.

Mr Mwijage said he has drawn an inspiration from the current branding of Africa as “the next investment destination.’’

Speaking at the signing of a Memorandum of Understanding (MoU) between the Tanzania Investment Centre (TIC) and the Oxford Business Group (OBG), the minister said Tanzania was now better positioned in terms of investments.

He was banking on the recent discoveries of natural gas and efforts by the government to accelerate industrialisation, noting that the two aspects were expanding the scope for foreign investment in the country.

The signing of the MoU means that TIC will provide research support to the Oxford Business School in-country team as it begins collecting data for ‘The Report: Tanzania 2017’, which will be an analysis on the country’s investment and business environment.

The report will explore in detail the opportunities and challenges facing foreign investors in the East African Community’s second largest economy.

OBG is a global publishing and research firm, which publishes economic intelligence on the markets of Africa, Asia, the Middle East, Latin and Central America and the Caribbean.

TIC’s acting executive director Clifford Tandari, said; “Whereas in the past, we have relied on forums and similar events to update investors on Tanzania’s emerging opportunities.”

He added; “Oxford Business Group’s publication will act as a key channel for communicating data and analysis relating to the country’s economy in both hard copy, digital format and even video clips, enabling the world to see what our leaders have to say.”