EU appeals to Tanzania to create conducive environment for investments
06 May 2014, 13:10
Dar Es Salaam - The European Union on Monday asked Tanzania to relax procedures in setting up business in
the country, saying cumbersome procedures attracted
corruption and was a disappointment to investors.
The EU head of delegation to Tanzania, Filberto Sebrigondi, said the
EU has been convincing investors to do business in Tanzania but they
were facing various challenges, including corruption.
"Tanzania should simplify the investment procedures and reduce the
red tape to attract more investors," the EU envoy said when speaking at
the beginning of celebrations marking the EU Week in the commercial
capital Dar es Salaam.
He said Tanzania was growing in terms of business with various
investment potentials available in the country but investors were not
finding the country conducive for investments.
Dianna Melrose, the British High Commissioner to Tanzania, said
bureaucracy was a stumbling block for investors intending to do business
"It's very disappointing because bureaucracy is very rampant here to
the extent that it creates corruption environment," said the British
Melrose called on Tanzanian authorities to work hard in cutting the red tape for the betterment of the country.
She said that this should go hand in hand with reducing taxes and
other charges, so that to attract more businessmen to come and invest in
Tanzania took the lead in attracting Foreign Direct Investment (FDI)
in the East African region. The 2012 World Investment Report shows that
Tanzania attracted record breaking 1.1 billion U.S. dollars in 2012.
According to the report, between June 2011 and June 2012, Tanzania
overtook Kenya, the region's biggest economy, indicating the high
confidence among foreign investors in Tanzania.
- XinhuaFor the latest on national news, politics, sport, entertainment and more follow us on Twitter and like our Facebook page!