Thursday, February 20, 2014

Tanzania: Investors Assured Of State Support

Mwanza — GOVERNMENT has assured local and foreign investors that there shall never again be nationalisation in Tanzania as it seeks to promote private investments in key sectors.

The Minister for Agriculture, Food Security and Cooperatives, Eng Christopher Chiza said that government is committed to promote private sector investments in its key economic sectors and there would be no policy reversal.

"Government has no plans to nationalise your assets," the minister said in his closing remarks of the Lake Zone Investment forum that was organised to promote investment opportunities in the Lake Zone region.

He said government is keen to ensure that the rights and assets of investors were protected.

Policy predictability was mentioned in the forum as among key requirements in attracting local and foreign investments.

Participants said investors would not go where policies cannot be predicted. The minister, who represented the Prime Minister, Mr Mizengo Pinda, said government is committed to continue improving trade and investment climate and promote the growth of the private sector in the country.

The minister further said despite attracting foreign investments in the agricultural sector, there would be no land grabbing in the country. He said land to be used for investments would be acquired through proper channels. "Send this message to all that Tanzania's government has no plans to grab land," he said.

He said government will work on challenges that were discussed in the forum as it seeks to promote private sector investments in various areas.

He said improving the business and investment climate in the country was on top of government agenda so as to speed up the growth of the economy and poverty alleviation.

Earlier, the chairman of Lake Zone Investment Forum, Mr George Kahama had asked government to work on their request for the six lake zone regions to be considered as special economic zones. He said the area had the potential of becoming the business and financial hub of Africa's Great Lake region.

Mr Kahama also noted that the six regions making up the Lake Zone deserved to be made special economic zones with a view to attract more local and foreign investments. He said that attracting more investments would help to alleviate poverty through job creation and opening up of more business opportunities.

The Lake Zone Investment Forum was organised by the six regions making up the zone, which are Mwanza, Geita, Shinyanga, Simiyu, Kagera and Mara in collaboration with the Tanzania Investment Centre to promote investments opportunities in the regions.

About 1,000 local and foreign investors as well as major regional players in business and investments participated in the forum.

By Henry Lyimo

Source:Tanzania Daily News


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