Tanzania: Tz Clears Investment Hurdles Tz for Swift Investments

THE Tanzania Investment Centre (TIC) has said from now on any person willing to invest in the country will be issued with all necessary permits and certificates within seven to fourteen days.

TIC Executive Director, Dr Maduhu Kazi said here on Wednesday that the new development follows a directive by President John Magufuli issued on November 13 when inaugurating the 12th Parliament.

Speaking in the august House, Dr Magufuli insisted that in attracting investment in the industrial sector, his government would in the next five years continue improving business environment and investment.

“I want any investor willing to inject finances to get all the necessary permits and certificates within a fourteen (14) days and for that reason I have decided to move the Tanzania Investment Centre (TIC) from the Prime Minister’s Office to the President’s Office so that I can personally deal with all those causing unnecessary delays,” he said.

In implementing the president’s directive, TIC on Wednesday convened all public entities dealing with issuance of permits to discuss how they can ease bureaucracy to people willing to invest in the country.

Apart from officials from TIC, the meeting was attended by officials from Tanzania Revenue Authority (TRA), Ministry of Land and Human Settlement, Tanzania Bureau of Standards (TBS), National Environment Management Council (NEMC) and Tanzania Weight and Measures Agency (TWMA), among others.

Speaking after the meeting, the TIC Executive Director said that all parties had agreed that people wishing to invest in the country should be issued with permits within 14 days or less.

He said all institutions involved in issuance of permits had agreed to use an electronic system in a bid to reduce days of issuance of all requisite investment documents.

“We will soon convene all ICT experts who will collaborate with officials from e-Government Authority (e-GA) in order to come up with a system that will help investors to lodge their applications and get all necessary permits in less than 14 days,” said Dr Kazi adding that TIC wants to see investors getting the documents in between seven and 10 days.

Speaking at the occasion, TRA Commissioner General, Dr Edwin Mhede, said in the meeting, all parties had agreed to intensify communications in order to ease issuance of permits.

Dr Mhede said the meeting equally agreed that CEOs of all public entities involved in issuance of permits should make quick decisions in an event they receive documents regarding investment.

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