Conducive business environment remain to be a significant incentive to attract investors to grab tremendous opportunities with a view of bringing about multiplier effect into the country's economy.
The government has been living its commitments of improving the business environment in the country with the ultimate goal cutting down the costs of doing business. For example, the government has in each fiscal year increasing its budget size for infrastructures and power in order to cut down transport and energy costs.
However, the sudden change of various charges and duties by some regulatory authorities has been making unpredictable and unstable the policies which may discourage the present and potential investors.
Improvement of the rules is vital if Tanzania is to attain the development goals stipulated in Vision 2025, which targets the creation of a nation that will have graduated from a Least Developed Country (LDC) to a middle Income one.
Investment attractions particularly in developing countries seek to achieve due to its significance contributions to the growth of the economy and poverty alleviation. Tanzania is endowed with abundance of natural resources such as arable land, a wide base for raw materials supply from local source; political stability, good market policy excellent geographical location in the East African region.
The government efforts to create conducive business environment has started to pay off following the coming of Singaporean investors into the country as well as the recent visit by the Japanese minister for economy who among other pledged to make Tanzania centre for business and investment.
The visiting Singaporeans have expressed interest to invest particularly under the Export Processing Zones Authority (EPZA) managed Export Processing Zone (EPZ) and Special Economic Zone (SEZ) programmes. Prospective investors from Singapore came to Tanzania to explore business opportunities, thanks to President Jakaya Kikwete's recent tour of the Asian nation.
"My company deals with agricultural pesticides and I'm looking for a place here to do repackaging and distribution to the neighbouring countries' markets," said the Chairman and Technical Director of Asiatic Agricultural Industries Pte Ltd, Mr Chan Chek Chee, in Dar es Salaam.
