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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 Mr Rintaro Tamaki, Deputy Secretary-General, OECD

Tanzania is currently one of the strongest performers of the non-oil-producing countries in Sub-Saharan Africa with a Gross Domestic Product (GDP) growth that has exceeded 6% for ten consecutive years and stood at 6.9% for 2012-13. Domestic and foreign private investment has significantly risen over the last two decades as Tanzania has steadily improved its investment environment and striven to increase opportunities for foreign and domestic investors, notably by opening to international trade and investment and liberalising its financial sector. In 1996, the National Investment Promotion Policy opened most sectors to foreign and private participation.

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