PRESS RELEASE

THE GOVERNMENT HAS REGISTERED 8.65 BILLION DOLLARS PROJECTS WITHIN ONE YEAR

The United Republic of Tanzania Prime Minister, Hon. Kassim Majaliwa (MP) said within one year, the Government has managed to register 9,678 projects with a value of 8,658 million US dollars, which shows the positive results of investment in the country.

9,678 projects with a value of 8,658 million US dollars were registered in 2023 compared to 8,401 projects with a value of 5,558.47 million US dollars registered in 2022, he said.

He made the statement last night (Wednesday, September 11, 2024) while speaking to various stakeholders who participated in the launch event of five Information on the Improvement of the Business and Investment Environment and Investment Management Materials in the country held at Mlimani City, in Dar es Salaam

Elaborating on the first investment report for 2023 which shows the statistics of positive investment results in the country, the Prime Minister said that the projects have been able to generate 195,803 direct jobs compared to 76,841 jobs generated in 2022.

Explaining the efforts made by the Government on the investment development plans of the public and private sectors, as well as the business environment, the Prime Minister said that the Government continues to take various steps in reforming the operation and management of Public Institutions and Organizations to ensure that they are run for efficiency and productivity in serving the people.

This issue has already been given instructions by H.E. Dr. Samia Suluhu Hassan, The President of the United Republic of Tanzania on August 28, 2024 in a working session of Board Chairmen and Chief Executives of Public Organizations and Government Institutions. Currently, the Government has approved the proposals for the enactment of the Public Investment Law that will strengthen and set better conditions for investment management in Public Organizations as well as having reliable sources of funds for investment.

The Government has continued to strengthen the use of IT systems including the construction of an Electronic System for Serving Investors called Tanzania Electronic Investment Window (TeIW) to enable investors to register a project inside or outside the country and obtain investment permits within three days if they have met the criteria.

The first phase of the construction of this system has been completed and has enabled the integration of the systems of seven institutions which are the National ID Authority (NIDA); Department of Immigration; Department of Labor; Business Registration and Licensing Agency (BRELA); Tanzania Revenue Authority (TRA); The Ministry of Lands, Housing and Housing Development and the Tanzania Investment Center (TIC), he said.

At the same time, the Prime Minister has asked the institutions and authorities of the Government to accelerate the amendment of the laws that contribute to the ease of doing business to ensure that the new laws enable a better environment for business and investment.

"This issue should go hand in hand with setting priorities in providing services quickly, efficiently and meeting international standards. Authorities should have simple systems to communicate with investors and remove existing obstacles, he emphasized.

He asked Government institutions and authorities to increase close cooperation with the private sector as it can provide valuable ideas and suggestions about the improvements needed. Also, put in place plans to provide training and services to business stakeholders including promoting the use of new investment management tools.”

He asked them to ensure that the community is involved in the improvement processes to receive their opinions and that the decisions taken are in line with their needs. All institutions involved in the business environment should invest in information and communication technology (IT) systems to improve investment management, reduce bureaucracy and increase transparency, emphasized the Prime Minister.

In order to measure the effectiveness of the improvements made and identify the areas that need correction, the Prime Minister asked them to work with stakeholders to set up regular evaluation systems. "Place emphasis on the importance of changing strategies and methods based on implementation evaluations and opinions from stakeholders, he said.

The five statements launched yesterday include the Statement of Evaluation of the Implementation of the Plan to Improve the Business and Investment Environment; National Investment Statement for the Year 2023; National Guidelines for the Development and Management of Special Economic Zones (SEZ); Electronic System for Serving Investors in Special Economic Zones and Exports (EPZ); and the Strategic Plan of the Office of the President, Planning and Investment for the period 2024/2025 - 2025/2026.

Earlier, welcoming the Prime Minister to speak to the participants of the event, the Minister of State, Office of the President, Planning and Investment, Prof. Kitila Mkumbo said through the Program to Improve the Business and Investment Environment (MKUMBI) policy improvements to the business and investment environment have been made, including the cancellation of more than 374 charges and taxes identified as a nuisance in the investment, industry, trade, mining, agriculture sectors , livestock, fisheries, natural resources and forests.

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PROVIDED BY:

OFFICE OF THE PRIME MINISTER,

THURSDAY, SEPTEMBER 12, 2024.

PRESS RELEASE