Directive for Councils to Update Investment Profiles for Economic Transformation

TLDR

• Business officers in Tanzania have been directed to enhance the identification and promotion of investment opportunities to support economic transformation under Development Vision 2050.
• Deputy Minister for Industry and Trade Denis Londo issued these directives during the 3rd Ministry-Business Officers Meeting in Dodoma.
• Councils are required to maintain accurate and regularly updated information on businesses, industries, investors, markets, raw materials, and investment opportunities.
• Mr. Londo emphasized that every council must prepare and update its investment profile to attract investors and facilitate informed decision-making.
• The government has restored 5 percent of councils' own-source revenues for development projects, expected to generate over 72 billion Tanzanian shillings (approximately 27.3 million US dollars).