OVER 500 participants are expected to attend the investment dialogue forum in Dar es Salaam scheduled for tomorrow.
The forum will focus on informing foreign investors about the latest regulatory and tax reforms adopted by the government to facilitate investments in the country.
Briefing the media on Monday, the Director of Investment Promotion at the Tanzania Investment Centre (TIC), Mr. John Mnali said; “Through the dialogue forum, we aim to inform foreign investors on the various investment reforms, including tax incentives, that have been implemented by the government across all economic sectors.”
He added that the meeting will serve as a platform for investors to voice their challenges and receive tangible solutions and clarification from the TIC, in collaboration with other government agencies under the TIC’s one stop facilitation Centre, including the Tanzania Revenue Authority (TRA) and the Business Registration and Licensing Agency (BRELA).
“The meeting will significantly connect foreign investors with TIC experts and representatives from the One Stop Facilitation Centre’s founding agencies, who have been invited for discussions and consultations aimed at enhancing investment,” he said.
The forum is co-organised by TIC and the Tanzania Revenue Authority (TRA).
ALSO READ: TIC, TRA team up to enhance investment
TRA’s Manager for Taxpayers Education, Mr. Paul Walalaze said the revenue authority will use the forum to update investors on recent tax reforms and payment systems.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
“It is essential for investors to understand all tax incentive reforms being implemented by the government during the ongoing Financial Year 2024/2025,” Mr. Walalaze explained.
He explained that investments are vital source of revenue for the TRA, which is subsequently used to fund various development projects.
He commended the government, under President Samia Suluhu Hassan for making significant investment reforms, including the adoption of the new Investment Act, 2022.
“It is very important to note that since becoming operational, this act has attracted a notable influx of Foreign Direct Investments (FDIs) and Domestic Investments (DIs),” he said.
Reports from TIC indicate that in the last Financial Year 2023/2024, a total of 707 projects were registered in the country, worth 7 billion US dollars (approximately 19tri/-), compared to 369 projects valued at 5.4 billion US dollars (14tri/-) recorded in the 2022/2023 Financial Year–representing a 91 per cent increase in investments. Approximately 43 per cent of all recorded projects were Foreign Direct Investm
Source: allafrica.com
Share this news
This Year's Most Read News Stories
ACT Unaware of Mwinyi’s joint committee on Zanzibar reforms
Opposition party ACT Wazalendo has said it is not aware of a special committee on reforms and has directed the party’s leadership to follow up on the decision of the Central Committee which directed its leaders to meet with President Hussein Ali Mwinyi.Continue Reading
Tanzania: Exim to Raise Fund for Mental Health Facilities Upgrades
EXIM Bank to raise 300m/- over the next three years for financing essential services and infrastructure upgrades in mental health facilities.
The bank’s Head of Marketing and Communications Stanley Kafu unveiled this when introducing Exim Bima Festival 2024 as a platform for bringing together individuals, organisations and various sectors for raising the funds.
“Exim’s initiative aligns with the government’s broader goals to ensure that every citizen has access to quality healthcare, including mental health services,” he said.
The initiative, which is one of the events for celebrating the bank’s 27th anniversary is scheduled for Wednesday this week in Dar es Salaam.
Mr Kafu highlights that this year’s festival is not only about raising awareness of the importance of insurance in the society but also focuses on enhancing access to mental health services and improving the overall well-being of the nation.
Statistics from the Ministry of Health shows a staggering 82 per cent increase in mental health cases over the past decade.
Mental cases have risen from 386,358 in 2012 to 2,102,726 in 2021, making the need for mental health services more urgent than ever.
ALSO READ: NBC’s Saving Campaign Empowers Customers Nationwide
Unfortunately, the country’s ability to address this growing challenge is hindered by a shortage of mental health professionals, infrastructure, medical equipment and essential medication.
For example, out of the 28 regions in the country, only five have facilities that provide adequate mental health services.
The most affected group is the youth aged 15 to 39, who represent the nation’s workforce, underscoring the need for intensified efforts to safeguard this generation for Tanzania’s future well-being and development.
Mr Kafu said by improving mental health services, Exim aims to contribute to the creation of a network of communities that can access care quickly and affordably.
Exim Insurance Department Manager Tike Mwakyoma said they are appreciating the support from partners in the insurance industry, who have stood by them since the last festival.
“Let’s continue this unity for the development of all Tanzanians and our nation as a whole,” the manager said.
Source: allafrica.com
Tanzania Declares Marburg Outbreak – Africa CDC Mobilizes Immediate Response
Addis Ababa, January 20, 2025</Strong> — Tanzania has declared a Marburg virus disease (MVD) outbreak after confirming one case and identifying 25 suspected cases in the Kagera Region of Northwestern Tanzania. The Marburg virus, a highly infectious and often fatal disease, is similar to Ebola and is transmitted to humans from fruit bats and monkeys. This outbreak marks the nation’s second encounter with the deadly virus, following the outbreak in Bukoba District of Kagera Region in March 2023, which resulted in nine cases and six deaths.
In response to this urgent threat, the Africa CDC is mobilizing strong support to help Tanzania contain the outbreak. A team of twelve public health experts will be deployed as part of an advance mission in the next 24 hours. The multidisciplinary team includes epidemiologists, risk communication, infection prevention and control (IPC), and laboratory experts to provide on-ground support for surveillance, IPC, diagnostics, and community engagement.
The Director-General of Africa CDC, Dr. Jean Kaseya, has engaged with Tanzania’s President Samia Suluhu Hassan and the Minister of Health to ensure coordinated efforts and secure political commitment for the response.
“Africa CDC stands firmly with Tanzania in this critical moment. To support the government’s efforts, we are committing US$ 2 million to bolster immediate response measures, including deploying public health experts, strengthening diagnostics, and enhancing case management. Building on Tanzania’s commendable response during the 2023 outbreak, we are confident that swift and decisive action, combined with our support and those of other partners, will bring this outbreak under control,” Dr. Kaseya stated.
Africa CDC has recently supported efforts to enhance the diagnostic and sequencing capacity of public health laboratories in Tanzania. PCR Test kits and genomic sequencing reagents have been dispatched, with additional supplies in the pipeline. To ensure rapid identification and confirmation of cases, the institution will also provide technical assistance to strengthen detection and genome sequencing for better characterization of the pathogen. Additionally, support will be provided to improve case management protocols and enhance the capacity to deliver safe and effective treatment.
Africa CDC is committed to working closely with the Government of Tanzania, regional partners, international organizations, and global stakeholders, including the World Health Organization, to stop the spread of the Marburg virus.
Source: allafrica.com
