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Opening Tanzania- US Business and Investment Forum recently at CITI headquarters in New York, USA, the Premier told members of the business community that Tanzania is the right investment destination.
Tanzanian Prime Minister Kassim Majaliwa has outlined ten factors that could attract investors to Tanzania, including strong diplomatic relations and stable economic policies. Other factors are a peaceful environment, the country’s strategic geographical location, market availability, youth workforce, digital infrastructure, modern communication infrastructure, broad economy, good governance, and effective tax system.
Opening Tanzania- US Business and Investment Forum recently at CITI headquarters in New York, USA, the Premier told members of the business community that Tanzania is the right investment destination.
Regarding the strong diplomatic ties, he noted that the bilateral relationship between the two countries which has lasted for more than half a century, reflects the friendly investment environment. He said that for more than two decades average economic growth stood at 7 per cent while the lowest inflation was 3.8 until December 2023.
The PM said that over the past two decades, the average economic growth rate stood at 7%, while inflation dropped to as low as 3.8% by December 2023.
He further said that Tanzania’s business climate is predictable, and transparent and offers protection against dispossession of assets, while investors are allowed to retain their profits after paying tax.
On market availability, Majaliwa said that Tanzania has a domestic market of over 62 million people and access to more than 500 million people through regional blocs such as the Southeast Africa Development Community (SADC) and East Afric Community(EAC) , adding that the country also has a large youth population, providing sufficient labor force supported by investments in education. He detailed that the government is making significant investments in digital infrastructure, a move that attracts investors in the technology sector.
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Majaliwa further said that the Standard Gauge Railway project and improvements of the Air Tanzania Company Ltd and the overall investment in the transport sector are crucial steps aimed at strengthening business and transportation in the country.
