The Ministry has many potential areas for local and foreign investment. The investment opportunities are available in Tourism, Antiquities, Forestry and Beekeeping and Wildlife sectors.
Favorable National Investment Climate:
Regarding investment climate, Tanzania ranked first in a report titled “The Africa Competitiveness Report 2000/2001”, benchmarking macro economic and investment climate success factors. It was followed by Morocco, Mozambique, Nigeria and Uganda. That been the case, it reveals that the comprehensive economic and political reform measures undertaken since mid 1986, have progressively brought about an efficient economic management, financial discipline and a framework for a dynamic high growth economy.
Tanzania is also free of ideological confrontations, ethnic problems and labor disputes. Therefore, it is a centre of economic and political stability in sub-Saharan Africa. Thus, the pro-investment attitude by Government is clearly demonstrated by the innovative investment legislation, the increasing number of foreign direct investment in the country and economic and structural reforms that have led to substantial progress in establishing a functioning market economy.
Key Government Institutions:
The Tanzania Investment Centre (TIC) is the one-stop centre for investment and should be the first contact for all investors. TIC offers a range of services to potential investors, including investment incentives and advice on how to move through the investment process easily. A number of key government agencies are represented at TIC, including Immigration, Ministry of Lands, Tanzania Revenue Authority, among others. TIC can also arrange meetings for investors with other key agencies to facilitate the investment process.
The Ministry of Natural Resources and Tourism (MNRT) is the lead technical agency responsible for tourism development (Natural and Cultural), and is therefore an important contact for potential investors. The Tourism and Antiquities Divisions can provide valuable information to investors in terms of the current status of the tourism sector, the outlook for cultural tourism growth, and potential areas for development of tourist hotels, resorts, lodges, restaurants, and camp sites.