Tanzania concerned as FDI inflows dwindle for three years

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They cite policy unpredictability, inadequate incentives to investors, delays by the government in making decision on some major projects and the multiplicity of regulatory bodies.

“The challenge that we are grappling with is lack of the ‘FDI targets’. We should emulate South African government, which has formed a task force comprising four ministers and representatives from the private sector to raise $100 billion (about Sh226 trillion) in three years,” Mr Simbeye said. Confederation of Tanzania Industries (CTI) second vice chairman Shabbir Zavery cites the multiplicity of regulatory agencies, attracting multiple fees, sending high operational costs and scaring away investors.He also linked negative the performance to the government’s spending cuts by banning what was termed as “unnecessary government officials’ foreign trips”, purchase of first-class air ticket and an order that the government meetings be held in government buildings instead of expensive hotels. Ceteris paribus, these have a negative impact on aggregate demand for products and hence discouraging investors.

Tanzania concerned as FDI inflows dwindle for three years

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