DAR ES SALAAM:

THE GOVERNMENT has made 605 policy, legal, regulatory improvements over the past five years from 2019 to 2023 to attract investors

This was said today February 27, 2024 by the Minister of Planning and Investment, Prof.

Kitila Mkumbo in Dar es Salaam at the Tax and Investment Forum.

He said, 416 improvements equal to 64 percent were aimed at creating a better environment for business and investment in the country.

Also, 460 improvements out of 665 improvements have been made between the year 2022-2023 equal to 70 percent.

Prof Kitila has said that these improvements have been made to attract investors who have been looking at political stability and peace in the respective country, the legal environment, especially in the protection of property, the investor will invest in the respective country.

"We have set up a good legal environment, to ensure that their assets are safe, there is a market for the products they will produce," said Prof Kitila.

He said, Tanzania's market is big and it is estimated that in the next 10 years it will be among the four countries with the largest population.

"Tanzania is the main market gateway within the East African Community (EAC) and Southern African Development Community (SADC) we are talking about a market population of 400 million people.

"But we have also joined the African Business Association (CFGA) market with approximately one billion people," he said.

In addition, he has also said economic stability and financial stability in general.

Availability of talent and manpower, quality of infrastructure is another source of attraction for investors.

"Taxes, low rates appear to be number seven to attract investors, low labor costs, availability of land and availability of funds to finance investment projects,"