The national investment promotion policy

THE NATIONAL INVESTMENT PROMOTION POLICY

In an effort to further improve the investment climate in Tanzania, the Government decided recently to review the Tanzania Investment Promotion Policy of February 1990. The New Investment Policy was approved by the Government in October 1996.

The new Policy underlines the following:

  • Maximum mobilization and utilization of domestic capacity including cooperation with other developing countries as well as industrialised countries
  • Maximum promotion of exports of goods and services to enhance the development of a dynamic and competitive export sector The encouragement of inflows of external resources to complement national efforts
  • Encouragement and facilitation of the adoption of new technologies in activities that especially have a direct bearing on productivity, quality and increased competitiveness
  • Enhancement of transparent legal framework that facilitates the promotion and protection of all investments
  • Deregulation of the investment approval process
  • Re-defines the role of the private sector and puts it into a more central role
  • Creates a balance between administrative controls and market forces as a means of allocating resources
  • Re-emphasize political pluralism to enhance democracy
  • Rededicates the nation'sadherence to Rule of Law

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