TANZANIA is better placed to attract more foreign investors, thanks to successful fight against corruption and political stability of the country.
Swedish Ambassador to Tanzania Anders Sjöberg gave the observation in Dar es Salaam over the weekend while winding up the training programme on Computer Model for Accessibility Analysis and Reporting (CONFAR).
He said remarkable successes in the fight against corruption under President John Magufuli administration have been put clear by various reports, including the 2018 Global Corruption Perceptions Index (CPI) by Transparency International.
“For a country to invest in productive projects there should be well planned infrastructure in all fields as well as skilled, talented, energetic and dynamic manpower, among others,” he said.
He said in his home country, a good number of companies invested in manufacturing sector because of conducive environment, including land, reliable energy—both hydro, wind and solar—to facilitate investments.
The Swedish government and UN Industrial Development Organisation (UNIDO) co-sponsored the CONFAR training to equip authorities responsible for investment issues in the country with skills to analyse productive projects for the country’s development.
UNIDO Country Representative Sephen Kargbo said, “We firmly believe that at the end of this training, you will be able to distinguish cash flows, conduct financial, sensitivity and economic analyses as well as development appraisal, by showing how net cash returns or profitability of an investment alter with different values assigned through the valuable needs.”
He appreciated the government’s positive response to the offer for capacity building of industrial support entities, particularly those responsible for investment promotion and facilitation.
He said UNIDO’s work in Tanzania, as part of UN family, cuts across many sectors, including promotion of agro-industry, renewable energy for productive uses, together with clean energy cook-stoves on bioethanol to reduce reliance on wood charcoal as well as technical support to identification and mitigation of health and industry related pollution.
Director of Planning and Development with the Export Processing Zone Authority (EPZA) Lamau Mpolo said Tanzania has been doing best in investments because of political stability, which is one of the main factors that potential investors consider most before making investment decisions.
He recalled the Rand Merchant Bank (RMB) report which ranked Tanzania among the top 10 countries to invest in, stressing that conducive environments are set in all sectors to smooth investments for foreign and domestic investors.
“This training has expanded our skills and knowledge over analysis and classification of productive projects because not all proposed projects can have quick and positive results to individuals and the country at large,” said Mr Mpolo.