Tanzania calls for more Indian investment amid economic reforms

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Locals wear face masks as a preventive measure against coronavirus, in Dar es Salaam, Tanzania, April 20, 2020. Tanzanian health authorities on Monday announced 84 new confirmed cases of COVID-19 in three days, bringing the total number of confirmed cases to 254 from 170 reported on Friday last week. (Xinhua)
Locals wear face masks as a preventive measure against coronavirus, in Dar es Salaam, Tanzania, April 20, 2020. Tanzanian health authorities on Monday announced 84 new confirmed cases of COVID-19 in three days, bringing the total number of confirmed cases to 254 from 170 reported on Friday last week. (Xinhua)

Tanzanian President Samia Suluhu Hassan has called for more Indian investment in the East African nation, promising a business-friendly environment and progressive economic reforms, the presidency said in a statement late Tuesday.

The Directorate of Presidential Communications said in the statement that Hassan made the appeal on Tuesday in an address to leading Indian investors at the Tanzania-India Business and Investment Forum in New Delhi on the second day of her three-day state visit to India.

She said Tanzania is implementing ambitious and progressive economic reforms, leveraging the private sector and investments as catalysts for economic growth.

As part of the far-reaching reforms, Tanzania has deployed technological solutions that allow foreign investors to register their businesses and receive investment incentive approvals online prior to their arrival, said the statement, adding that Tanzania has also streamlined its business regulations, making it easy for investors to comply, and will provide robust incentive packages to investors.

Hassan said investment promotion agencies in mainland Tanzania and Zanzibar have set a target of attracting at least 3 billion U.S. dollars of direct investment from India by 2025.

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