Tanzanian president reiterates pledge to restore investors' confidence

2021-04-22 15:56:04 GMT2021-04-22 23:56:04(Beijing Time) Xinhua English

DAR ES SALAAM, April 22 (Xinhua) -- Tanzanian President Samia Suluhu Hassan on Thursday reiterated her pledge to restore investors' confidence in the east African nation by overhauling investment laws and offering incentive packages.

"We should offer incentives to strategic investors and dismantle hurdles that discourage investors from doing business in the country," she said in her maiden address to the National Assembly in the capital Dodoma.

In her address televised by state-run Tanzania Broadcasting Corporation, President Hassan said Tanzania has reached a stage where investors feel that the country's investment policies are unpredictable.

"There is bureaucracy in issuing relevant permits to prospective investors, there is red tape in providing land to investors. These malpractices should end forthwith," she said in her address that lasted for one and a half hours.

The president said the country's efforts to develop the economy could not be achieved if it sidelines investors.

"We need massive investments in manufacturing sector that will subsequently create jobs to majority of Tanzanians," she said, adding that her administration will also encourage the creation of industrial parks across the country.

The head of state added that her administration will also work toward improving sectors such as tourism, mining, agriculture, fisheries and livestock keeping.

Meanwhile, Hassan pledged to fight corruption, indiscipline and idleness within the public services. Enditem