VELMA Law, Dar es Salaam Tanzanian Law Firm 1200 627
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VELMA Law, Dar es Salaam Tanzanian Law Firm 310 310

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“To enhance efficiency, President Dr John Pombe Magufuli announced that the investment portfolio has been moved to the President’s Office from the Prime Minister’s Office.

He said that investors have been complaining of unnecessary bureaucracy and most of them are discouraged to invest in the country due to unnecessary delays of permits and other documents.

I want any investor willing to inject finances to get all the necessary permits and certificates within a fourteen (14 days) and for that reason I have decided to move the Tanzania Investment Centre (TIC) from the Prime Minister’s Office to the President’s Office so that I can personally deal with all those causing unnecessary delays” he said.

In a speech during the inauguration of Parliament, the President also noted that in the next five years key economic and production areas/sectors will be on agriculture, livestock, fishing, industry, minerals, trade and tourism.

These sectors employ a huge number of our population and if we succeed in tapping them, then we will grow our economy. For the sectors to bring impact we also intend to improve transportation infrastructure, electricity and communication and other social services including health and education” he said.

He also said, the Government will revisit with the view to improve tax regimes, the business environment in general and end bureaucracy to attract more investments in the country.

The President also said that the Government will set up industrial clusters in every region as per natural resources available.”


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