The United Republic of Tanzania was fast becoming a foreign direct investment (FDI) front-runner in Africa. As market reforms reached critical mass, the United Republic of Tanzania received a billion dollars of investment inflows in 1995-2000 compared with only $90 million during the preceding six years. The challenge at the time of review was to achieve higher levels of inflows and increase the scale and scope of their benefits.
The IPR recommended that, as a short-term strategy, the Government should continue to focus on immediate FDI potential in mining, utilities and tourism. The long-term challenge would be to make the United Republic of Tanzania an attractive location for FDI in East and Southern Africa. To achieve this, the IPR suggests the following:
-
Completing the privatization programme.
-
Expanding and consolidating international market access.
-
Enhancing the competitiveness of human resources.
-
Building a dynamic private enterprise.
Since the IPR was published, UNCTAD has assisted the Government in the following ways. It
-
sensitized members of the Cabinet on the findings of the IPR;
-
provided training workshop on good governance in investment promotion and facilitation;
-
produced an Investment Guide to Tanzania and one for the East African Community;
-
drafted an investment code for Zanzibar and sensitized local policymakers on FDI issues;
-
assisted the Tanzania Investment Centre in developing a client charter and organized a training course in customer service standards;
-
produced a Blue Book on Best Practices in Investment Promotion and Facilitation.
