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OECD Investment Policy Reviews: Tanzania 2013

image of OECD Investment Policy Reviews: Tanzania 2013

This review of investment policy in Tanzania evaluates the current policy situation and makes recommendations for  enabling Tanzania to attract higher investment to exploit its full potential and become a regional trade and investment hub. The review finds that while private investment in Tanzania has considerably risen since the early 1990s, further progress can be made to improve the business climate and attract more investment in key sectors, such as infrastructure and agriculture.

Informed by the subsequent chapters of this report, this overview provides policy options to address these challenges. In particular, investors’ rights and obligations could be rationalised and made more accessible and regulations on foreign investment and investment incentives reviewed. The land legislation could be revised and land rights registration accelerated, notably by providing stronger incentives for registration. The short-term and long-term costs and benefits of the regulatory restrictions imposed by crop boards and of export bans could be closely analysed.

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Preface by Dr. Florens M. Turuka, Permanent Secretary, Prime Minister's Office, United Republic of Tanzania

In recent years, the Government of the United Republic of Tanzania has implemented various socio-economic reforms with a view to improve the business environment and investment climate in the country. The main objective of such interventions is to make Tanzania an increasingly attractive, robust and viable investment destination for both domestic and foreign investors. The ultimate goal is to ensure that Tanzania achieves higher rates of inclusive economic growth commensurate to her competitive advantage in terms of abundant natural resources as well as strategic geographical location as a logistical hub to the rest of the continent, which provides investors with access to regional and global markets. Furthermore, Tanzania has enjoyed uninterrupted peace, political stability and tranquillity since independence. These key attributes, coupled with the existence of robust institutions for investment promotion and facilitation, have contributed to making Tanzania’s investment climate unique and increasingly attractive.

English

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