Investment applications in Tanzania will now be done online

Monday June 20 2022
TIC online

Investors from outside, in particular, do not necessarily have to hop from one office to another for permits and the like.

By Zephania Ubwani

Arusha. Processing of investment applications will now be done electronically to save time and costs.

Investors from outside, in particular, do not necessarily have to hop from one office to another for permits and the like.

This is one of the reforms initiated by the Tanzania Investment Centre (TIC), a government agency mandated to promote investments, to end red tape.

“An electronic system to ease processing of the applications has been put in place,” affirmed Aristedes Mbwasi, the director of Investments in the ministry of Investment, Industries and Trade.

He said potential investors would be relieved of the need to move from one place to another for clearance of the service needed.

Although this is not the first time TIC or the ministry responsible for investments made such a pledge, Mr Mbwase this was the way to go to attract investors.

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He was speaking here during a meeting convened for investors from The Netherlands, Tanzania’s second largest trade partner in the European Union (EU).

The meeting was convened for the stakeholders to take stock of measures underway to remove mojor hurdles on processing of investment registration.

Mr.Mbwasi said the government was keen to know the outstanding challenges so that it can swiftly act on them, and by doing so, create a more conducive environment.

He said The Netherlands was not only an important source of investments into the country but also a major market for Tanzania’s agricultural exports.

TIC director of Investment Promotion Revocatus Rasheli said The Netherlands had invested in 170 projects worth a whopping $ 1 billion over the years.

The investments, a significant number of them being in agriculture and allied sectors, have created about 15,000 jobs for the local people.

He said it was appropriate that investors from the EU member country were well acquainted with the on-going reforms in the country’s investment requirements.

“Major reforms have been done since last year under the sixth phase government of President Samia Suluhu Hassan,” he told journalists on the sidelines of the forum.

For his part, The Netherlands Ambassador to Tanzania Mr Weibe de Boer said 80 companies from his country have invested in the seed sector and tourism alone.

However, he said the Embassy was aware of the hurdles haunting investments in agriculture and that they include “lengthy and difficulties” in obtaining work permits.

The same challenges, Mr Boer explained, are experienced in getting import permits for plants and plant materials for the investors. “Access to finance, delays and difficulties in registration of biological control agents (BCAs) also remain a key challenge,” he pointed out.

He, nonetheless, expressed his appreciation for efforts being done by the Tanzania government to lower entry barriers for startups particularly in tourism