Legislative Changes in Tanzania, A Way Forward to Attractive Investments Opportunities

Following recent discoveries of oil and gas, uranium and other natural resources across all parts of Tanzania, a series of exciting deals have been concluded with neighboring countries to build a $4 billion pipeline to transport crude oil from Kabale in Uganda to Tanga Port in Tanzania and a develop rail links to Indian Ocean ports through Tanzania. These latest developments have elevated Tanzania as the most ideal destination in East Africa for foreign and local investments catering the needs for both large and small scale investors. Tanzania has a more conducive business environment attributed by a competitive investment market, stable fiscal regime with sustainable level of inflation, investment guarantees, good geographical location, peace and security, transparent investment laws and abundant natural resources. In the Doing Business Report 2016, Tanzania has been ranked 139th out of 189 economies1. Tanzanian government has very much been on the front foot into taking steps which will surely see the country climbing up in the DB Report of 2017.