What you need to know:
- The government seeks for experts for review of the investment policy, plans to make amendments of the Tanzania Investment Act and reduce bureaucracy in issuance of work and residence permits.
Dodoma. The government is looking for experts who will review the investment policy, amend the Tanzania Investment Act and reduce bureaucracy in issuance of work and residence permits.
The latest move is meant to improve the business environment in the country, a move that may help attract more investors.
Responding to some issues raised by a section of lawmakers during a four-day debate of the 2019/20 budget proposal for the Prime Minister’s Office, the minister of State in the Prime Minister’s Office responsible for Investments, Ms Angela Kairuki, said the plan will come up a new investment policy, which would be more friendly for investors. “We have already done an assessment of investment environments and identified challenges that will be solved in a new policy and we are currently looking for experts for the review of the policy,” said Ms Kairuki.
For the new policy to be effective in bringing the challenges to an end, the government is also determined to amend the Tanzania Investment Act. The hindrances to be stamped out include, availability of land for investors, supportive infrastructure and institutional challenges.