The President of Tanzania offers positive, peaceful, stable, predictable and competitive ecosystem to Indian investors; Agri, manufacturing, oil & gas, mining, transportation and ICT emerge as priority sectors
The Government of Tanzania offers a positive, peaceful, stable, predictable and competitive ecosystem to foreign investment community. Tanzanian government recognises the importance of private sector as the driver and engine of growth. The investment regime of the country presents free repatriation of capital and the ability to externalise profits by putting fewer restrictions on capital movements.
Dr. Jakaya Mrisho Kikwete, President of The United Republic of Tanzania, said that the ‘India-Tanzania Trade & Investment Forum' organised by FICCI in association with CII, ASSOCHAM and Tanzania Investment Centre. The President is accompanied by a business and government delegation from Tanzania.
Dr. Kikwete said that the conducive investment climate of Tanzania is underpinned by effective political, economic and social policies that favor investors seeking to take advantage of the vast untapped investment opportunities in the country.
He added that India could explore investment opportunities in sectors such as agricultural and livestock development, natural resources, tourism, manufacturing, oil and gas exploration and production, mining, real estate, transportation, services, ICT, telecommunications, healthcare , education, energy and water and sanitation.
Dwelling on Tanzania's efforts to become a middle income country by 2025, the President said that a long term plan was finalised by the government for the period 2010-2025. The long term plan was further divided into three short term plans of five year each.
In the first phase, the focus was on exploring potential sectors for growth and removing the bottlenecks. In the next phase, the goal is industrialisation of Tanzania and in the final phase the focus would be on enhancing the competitiveness of the country. In this process of development, he said that Tanzania looks forward to India's support.
Mohanbhai Kalyanjibhai Kundariya, Minister of State for Agriculture, Government of India, said that India and Tanzania have enjoyed a great relationship for a very long time. It is evident from the bilateral trade figures of 2013- 14, which stood at US$ 4 billion. He added that India would support Tanzania in its development endeavor, which would further strengthen the link between the two nations.
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