WHEN the Tanzania
Investment Centre (TIC) was established in 1997 by the Tanzania
Investment Act to be 'the Primary Agency of the Government to
coordinate, encourage, promote and facilitate investment in Tanzania,
and to advise the Government on investment policy and related matters,'
the sole aim was to woo and sustain the presence of the investors once
in the country.
To reinforce this
President John Magufuli in his regional tours of Lindi, Ruvuma and
Njombe amongst, precisely reinstated that the country wants investors en
masse to come and invest in Tanzania.
His school of
thought was that, just like any part of the world, Tanzania can not
operate in isolation, but must welcome foreigners to invest their
capital, skills and all sorts of development traits this country still
requires.
Once a respectable
multinational company inaugurates a new project in a developing country
like Tanzania, it is usually a cause for celebration- especially when
the project won't hurt the environment and in turn will create jobs to
the locals and pay taxes and bring needed foreign currency.
The list may be
long and more subtly their advanced technologies will spread and help
the locals to also advance, hence, any government staff, who would try
to be an obstacle to them would not be tolerated.
Whichever way one
may look at it, any public servant official who tries to block the
spirit of welcoming investors by enacting for them unnecessary
bureaucracy and red tape is simply an enemy of the people, in another
anti-development in a democratically elected government being for the
people, of the people and by the people.
If in doubt, think
of the number of jobs direct and indirect an international clothing
company (investor) coming to your village to set up a factory would
create, or a mining giant breaking ground near your village to mine for
gold and sell it abroad.
Obviously, they
will generate benefits that go beyond their own businesses-in technical
jargon; they would generate "spill-overs" for the rest of the village
and the country's economy.
So, what the fifth
phase government is doing is for the general benefit of the people to
attract "foreign direct investment," so that every citizen gets the
spillovers.
Local entrepreneurs
ought to also know that today, most foreign investment is linked to
something called "global value chains," is an idea that most of the
products that consumers buy-say, cars- are made up of parts and designs
produced in different countries and shipped across borders to a final
assembly site, in another word would guarantee them ready market.
Because of low
capacity and capitals, local entrepreneurs ought to also know that
joint-ventures between them and the foreigners will make them also
realize faster spill-overs than projects paid and run only by
themselves.
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