Tanzania is politically stable and enjoys steadily growing economy. It is celebrating half a century of political stability as a sovereign country, with close to 20 years of multi-party democracy that has experienced neither a coup nor civil wars.
Tanzania's President and members of the National Assembly are elected concurrently by direct popular vote for five-year terms. The President appoints the Prime Minister who serves as the government's leader in the National Assembly. The President selects his cabinet from among Members of Parliament. Elections for the President and all Members of Parliament were last conducted in October 2010.
Zanzibar's House of Representatives has jurisdiction over all non-union matters. There are currently 76 members in the House of Representatives. Ostensibly, Zanzibar's House of Representatives can make laws for Zanzibar without the approval of the union government as long as it does not involve union-designated matters. The terms of office for Zanzibar's President and House of Representatives are five years as well. The semiautonomous relationship between Zanzibar and the union is a unique system of government.
Tanzania has abundant natural resources ranging from minerals to agricultural, forestry and marine resources. They include gemstones such as Tanzaniate, a rare blue/purple gemestone that is only found in Tanzania.
Preferential Trade Markets
Tanzanian investors can access a number of preferential trade markets such as Africa Growth Opportunity Act (AGOA) of the United States, the European Union's Everything But Arms (EBA) programme, the East Africa Community (EAC) and the Southern African Development Community (SADC).
Dar es Salaam is the commercial capital city and largest sea port. Other sea ports are Zanzibar, Tanga and Mtwara. Given its strategic location, Dar es Salaam is the natural gateway to East and Central Africa and the capital city is Dodoma.
(as at January 2015) about 1730 Tanzanian Shillings to the US Dollar
Tanzania's GDP growth has averaged 7,3 per cent a year over the past four years, making it one of the fastest growing economies in Africa.
Foreign Direct Investment
Tanzania is the leading FDI destination in East Africa. Over the past decade, FDI exceeded US$ 6 billion.
Tanzania has undertaken a wide range of social and economic reforms aimed at promoting investments and trade. These include liberalising the economy, with the private sector playing a leading role as the engine of economic growth. Foreign exchange restrictions have been removed, prudent fiscal and monetary policies have been instituted, economic governance has been improved and almost all public institution have been privatised.
These steps are also aimed at achieving macro-economic stability and have resulted into higher rates of economic growth, low rates of inflation and improved foreign reserves for most of the past decade.
Supportive Political Framework
Tanzania is a multi-party democracy. Investments and private property are protected in its constitution. The country is a signatory to the World Bank's Multilaterial Investment Guarantee Agency (MIGA) and the member of the International Council for Settlement of Investment Disputes (ICSID). It has also entered into bilateral investment protection treaties with a number of countries.
Enjoying unmatched peace and political stability, Tanzania provides investors and their families with excellent lifestyles.