Tanzania Mining Investment Attractiveness Deteriorate
The latest Fraser Institute Annual Survey of Mining Companies indicates that Tanzania dropped in the overall Investment Attractiveness Index ranking.
FDI
Tanzania Foreign Direct Investment (FDI) net inflows rose by 13% from USD1.8b in 2010 to USD2.04b in 2014.
Investments in Tanzania increased largely thanks to natural gas discoveries across the country.
In 2015, FDI net inflows in Tanzania decreased by 34% to USD1.5b from USD2.04b in 2014.
According to the 2016 World Investment Report of the United Nations Conference on Trade and Development (UNCTAD), low commodity prices depressed FDI inflows in natural resource based economies across Sub Saharan Africa.
However, over the past 2 years Tanzania remained the first recipient of FDI in East Africa.
The top 5 providers of FDI into Tanzania are South Africa, UK, Kenya, Canada, and China.
On 23rd March 2015, the Tanzania Investment Centre (TIC) and the Investment Climate Facility for Africa (ICF) signed an agreement worth USD950,000 on a project that aims to increase investments in the country.
This will be achieved by expanding, consolidating and promoting the Tanzania Investment Window (TIW).
The TIW allows investors to register companies and to obtain investment certificates, work permits and tax exemptions on-line.
TIC is the primary agency of the Government to coordinate, encourage, promote and facilitate investment in Tanzania.
The agency is now looking to promote further investment in key economic sectors.
Clifford Tandari, Chief Executive of TIC explained to TanzaniaInvest: “We are currently focused on promoting investments in manufacturing, agriculture—where the majority of Tanzanians are involved – real estate, construction, infrastructure, tourism, and hospitality.”
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