Expert tells how Dar could attract more investors

Tanzania is likely to attract more foreign investors and secure more aid if it takes painstaking efforts to improve infrastructure and adhere to rigorous expenditure of public finances.

The Managing Director and member of world Economic Forum Peter Torreale said this in a special dinner organized jointly by his institute and the government recently.

`Tanzania has been performing pretty well in attracting foreign investments and foreign capital,` he said.

The event was aimed at promoting Tanzania as yet an excellent investment destination, as the country has achieved stable economic indicators seen by economic experts and the World Bank as being conducive for attracting even more investors.

Tanzania is one among few countries that have made remarkable economic strides which have enabled it to jump to the 11th position among countries that have performed well in various economic indicators.

If this trend continues in the next five years, Tanzania would be a country with the most investment environment in the world.

Currently, Tanzania is holding the third position for attracting foreign capital after Brazil and Turkey.

Speaking at the same occasion, President Jakaya Kikwete urged the gathering to treat Tanzania as `a potential destination for foreign investments and capital`.

`You should not hesitate to come and invest in our country. The government would continue to improve the environment for foreign investments, including lowering costs for conducting business and reviewing some laws with a view to eliminate hurdles to investors,` he said.

The President said Tanzania remains a commercial centre, attracting people from all over East and Central Africa.

It also has abundant opportunities for investments in various sectors such as mining, tourism, commerce, transportation, agriculture and provision of social services.

Tanzania is a haven of peace and is guided by rule of law and democratic governance and observes human rights, he said.