By Ndekana Utouh
Sunday January 26 2020
The beginning of 2020 marks five years until Tanzania is scheduled to fulfil its development vision to become a middle-income, semi-industrialised economy by 2025.
The Vision – first introduced at the turn of the century – is known to be one of President Magufuli’s top priorities.
The plan is set to create peace and stability, eliminating corruption, while developing a sustainable economy.
Ensuring a steady flow of investment into Tanzania underpins the fulfilment of these goals and the overall vision.
To date, numerous industries have benefited from direct investment. To take one example, telecommunications operators have collectively invested at least TZS 6 trillion into the country.
This level of investment is undoubtedly significant and has led to life-changing services being introduced and expanded. For example, mobile money and m-health services, which have provided banking and health services to those who previously were excluded or struggled to gain access.
In order to continue enticing private sector investment into key sectors, it is essential to nurture a business environment that is both reliable and secure for current and future investors.
This in turn creates a more sustainable, long-term cash flow into industries, which allows companies to create goods and services that radically improve the lives of countless Tanzanians.
By refining the business environment for key sectors in Tanzania – such as the telecoms sector – a whole range of new opportunities will open, unleashing creativity and boosting productivity.
This will preserve the investment flow that is key to drive these sectors forward.