PRIME MINISTER Kassim Majaliwa has given 10 reasons that can make any businessman from the United States interested in investing in the country.
He has mentioned the reasons as strong relations, stable economic policies, an environment of peace and stability, the geographical position of the country, the presence of large markets, the presence of a young workforce and digital infrastructure.
Others are modern communication infrastructure, a broad economy and good governance and a fair tax system.
Opening the trade and investment forum between Tanzania and the United States held on September 26, 2024 at the headquarters of the CITY offices, in New York, the United States, the Prime Minister explained to the businessmen that Tanzania is the right place to invest their capital and has an attraction that no investor he can avoid it.
Explaining the strength of relations, the Prime Minister said the long-term relationship between the two countries, which has lasted for more than half a century, proves a friendly environment for investment.
Regarding good economic policies, the Prime Minister said that for more than two decades the average economic growth was 7 percent and low inflation was an average of 3.8 percent until December, 2023.
“The IMF estimates this growth rate, Tanzania will have the largest economy in East Africa by 2028”, he said
Regarding the issue of peace, he said Tanzania’s business environment is predictable, transparent and protected against confiscation of assets while investors are allowed to return their profits after paying taxes.
“Tanzania is in a good area due to its geographical position. It borders eight countries, which provides excellent business opportunities and becomes a regional business hub”, he emphasized.
On access to large markets, the Prime Minister said Tanzania has access to a domestic market with more than 62 million people and more than 500 million people through regional communities such as SADC and EAC.
Regarding the youth workforce, he said Tanzania has a large number of youth, providing a sufficient workforce supported by investment in education.
Elaborating on the digital infrastructure, he said the Government is investing heavily in digital infrastructure, which makes the country attractive to technology investors.
Regarding the modern communication infrastructure, the Prime Minister said the Modern Railway Project (SGR), improvements to the Tanzania Airline (Air Tanzania) and investment in water transport are measures aimed at strengthening trade and transportation in the country.
