Doing Business in Presentation by: Ms. Salma Maulid Salum

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Presentation transcript:

Doing Business in Presentation by: Ms. Salma Maulid Salum Minister Counsellor-Trade and Economic Affairs Tanzania High Commission Pretoria

INTRODUCTION The Country Economy Relationship with South Africa Why Invest in Tanzania? Market Access Investment facilities and Institutions Investment Incentives Investment opportunities Concluding Remarks

The Country-Tanzania Tanzania is geographically located in the eastern part of African Continent bordering 8 African countries such as Kenya, Uganda, Rwanda, Burundi, DRC, Zambia, Malawi and Mozambique. It is strategically located with a vast area surrounded by the Indian Ocean which makes it easy to connect to the world through the sea. .

The Economy The economy of Tanzania has been one among the fastest growing in the Sub-Saharan Africa. It has been growing at an average of 7% and we have managed to maintain the inflation rate to single digit (3.3%). A total of projected 54 million people (2018). According to UNCTAD 2018 World Investment Report, in 2017 the inflow reached USD 1.18 billion (2.3% of GDP), down by 13% compared to the previous year but the country is still among the 10 biggest recipients of FDI in Africa. This decrease is due to policy changes in tax administration and mining royalty. The current FDI stock is estimated at USD 20.3 billion (39% of GDP). According to the 2018 Doing Business Report published by the World Bank, Tanzania ranked 137th out of 190 countries, losing five positions. Anticipation is that growth momentum will be maintained anchored by on going investment in infrastructure, expansion in private and public sector construction as well as external sector as the global economy regains ground. The growth has been supported by increased production of crops following good weather conditions as well as increased construction activities

Economy and trade The country has recorded more investments from abroad and made a departure from foreign aid which was then the largest source of foreign inflows. The principal export commodities include Minerals (gold, gemstones, diamonds, coal etc), coffee, cotton, cashew nuts, tea, sisal, tobacco and cloves. The main imports are machinery and transport equipment, textiles, clothing and petroleum products.

Tanzania and South Africa South Africa and Tanzania have a long standing relationship, dating back to the years preceding South Africa`s democracy, where Tanzania supported the struggle against Apartheid. South Africa is the third-largest exporter to Tanzania, with a market share of 9.63%. However, while South Africa's exports to Tanzania had dipped slightly from US$500-million in 2009, SA's imports from Tanzania grew by almost 100%, from $22-million in 2009 to $44-million in 2010. South African exports to Tanzania consists predominantly of manufactured goods such as machinery, mechanical appliances, paper, rubber products, vehicles, iron, steel, services and technology. Imports from Tanzania are mainly gold, coffee, cashew nuts and cotton. In the current time the area of particular importance is in prioritizing economic cooperation through trade and investment and create job opportunities in our respective countries.

Why Tanzania? Peace and Stability Large potential market Competitive Investment Climate Abundant Natural Resources Conducive Fiscal Regime Investment Guarantees Investment Incentives Access to Labour Transparent Investment Laws Infrastructure facilities

Potentials Strategic geographic location and access to markets Investment Incentives & Guarantees Attractive fiscal incentives for investment • Guarantees against nationalization & expropriation • A total of 23 Bilateral Investment Treaties signed with different countries. Strategic geographic location and access to markets Gateway To Six (6) Land-locked Countries (Uganda, Rwanda, Burundi, DR Congo, Zambia & Malawi) • Presence of 3 Major Ports (Dar es Salaam, Tanga & Mtwara) • Member of EAC, SADC and IOR-ARC • Exports goods under the AGOA • Trade partners with China, Japan, and Canada

Market Access Tanzania enjoys preferential market access with SADC(300m),East Africa(130m), Negotiated EPA with European Union, AGOA(USA) (over 6000 items) and other bilateral such as China, Japan, Canada etc China, Germany, Japan, India, the European Union, United Arabic Emirates, United Kingdom, Kenya, Japan, India and South Africa are Tanzania’s top trading partners

Institutions Tanzania Investment Centre is the Primary Agency of the Government to coordinate, encourage, promote and facilitate investment in Tanzania and to advise the Government on investment policy and related matters. The Centre is the focal point for all investors and performs all liaison work for the investor from enquiries right up to project start up. All government departments and agencies are required by law to cooperate fully with TIC in facilitating investors. Tantrade is mandated among other things is to implement the National Trade Policy, the National Export Development Strategy, the Trade Integration Strategy and the Agricultural Marketing Policy and other sectoral policies all which aim at developing and promoting Tanzania’s internal and external trade.

Investment Incentives THE TANZANIA INVESTMENT CENTRE grants Certificates of Incentives under authority conferred upon it by Part III, Section 17 (1-8) of Tanzania Investment Act, 1997. This Act is available on request at TIC Offices and in all Government bookshops. The incentives guarantees available to holders of TIC certificates of incentives Investment tax incentives Zero rated tax VAT for exports All these incentives are elaborated in the investment guide

Investment opportunities Investment opportunities available in Tanzania are categorized into the following sectors: Agriculture & Livestock, Tourism, Manufacturing, Commercial Building, Transportation, Broadcasting and Telecommunication, Natural Resources, Financial Institutions, Energy, Human Resources Development, Economic/Infrastructure.

THANK YOU FOR YOUR ATTENTION Concluding remarks Tanzania has become more competitive as a global investment destination over the past years. We have what it takes to be an attractive investment country, including skilled human resources, potential market for goods, abundant untapped resources and services in all sectors. Investors are attracted to the country’s commitment to implementing sound macro-economic policies, its effective privatisation programme and rich natural resources. THANK YOU FOR YOUR ATTENTION