Geza Ulole
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Flows From Single Deal Will Help Double Tanzania’s FDI This Year
Joseph Burite JosephBurite
July 19, 2016 — 8:54 AM CEST
Tanzania may receive $4.2 billion in foreign direct investment this year, double the average annual amount, boosted by inflows for a single project, the head of the Tanzania Investment Centre said.
“A few days ago, we got someone who is bringing investment that’s more than the annual combined investment that we have been getting,” acting Executive Director Clifford Tandari said, declining to provide any details. “So the future outlook is very positive and very encouraging for the country. We stand to double the volume of investment very soon, given the current regime.”
China, India, the U.K. and Kenya remain Tanzania’s leading sources of FDI and mining, tourism, health care, agriculture, real estate and assembly of motor vehicles, tricycles and motorbikes are the main sectors that investors are keen on, Tandari said.
The nation intends to cut the time it takes for foreign investors to get certification to three days this month from two weeks previously. It is also studying policy to amend areas of conflict, he said.
“We are trying to make investment conducive for both local investors and foreign investors,” Tandari said.
MY TAKE
With the exception that Kenya is the fourth largest investor in Tanzania instead of multinational companies registered in Kenya, i love every bit of the story! People in here should notice that single deal is not Uganda's pipeline since that investment is to happen in 2017! I know the deal but i can't disclose it in here for the interest of my motherland as we have a neighbor's President that wherever he hears a good deal in Tanzania, he takes the next plane to the country that investor comes from in an attempt to scuttle the deal!
Joseph Burite JosephBurite
July 19, 2016 — 8:54 AM CEST
- China, India, the U.K. and Kenya remain leading FDI sources
- Nation amending policy to get rid of areas of conflict
Tanzania may receive $4.2 billion in foreign direct investment this year, double the average annual amount, boosted by inflows for a single project, the head of the Tanzania Investment Centre said.
“A few days ago, we got someone who is bringing investment that’s more than the annual combined investment that we have been getting,” acting Executive Director Clifford Tandari said, declining to provide any details. “So the future outlook is very positive and very encouraging for the country. We stand to double the volume of investment very soon, given the current regime.”
China, India, the U.K. and Kenya remain Tanzania’s leading sources of FDI and mining, tourism, health care, agriculture, real estate and assembly of motor vehicles, tricycles and motorbikes are the main sectors that investors are keen on, Tandari said.
The nation intends to cut the time it takes for foreign investors to get certification to three days this month from two weeks previously. It is also studying policy to amend areas of conflict, he said.
“We are trying to make investment conducive for both local investors and foreign investors,” Tandari said.
MY TAKE
With the exception that Kenya is the fourth largest investor in Tanzania instead of multinational companies registered in Kenya, i love every bit of the story! People in here should notice that single deal is not Uganda's pipeline since that investment is to happen in 2017! I know the deal but i can't disclose it in here for the interest of my motherland as we have a neighbor's President that wherever he hears a good deal in Tanzania, he takes the next plane to the country that investor comes from in an attempt to scuttle the deal!