By Guardian Reporter , The Guardian
PRESIDENT Samia Suluhu Hassan has said that the government is set to review and amend the Immigration Act, Cap. 54 and Land Act, Cap 113 to provide an opportunity for Tanzanians in the Diaspora to access occupancy titles on land and develop it to stimulate development.
Addressing members of the Diaspora living in South Korea, on the last day of a six-day tour, the president briefed the Diaspora community on the review of the National Foreign Policy of 2001.
This has been completed and recognises Tanzanians who obtained citizenship elsewhere as now be granted special status, including ability to take up residence without tough visa conditions.
This is meant to stimulate the participation of people with Tanzanian origin in various development initiatives, she stated, pointing out that people in the Diaspora contribute a lot to the country’s economic expectations.
They send money (remittances) to family members for investment, which generates capital, expertise and technology application, thus contributing to improving crop production, industrial goods and various services.
Tanzanians in the Diaspora have invested billions through purchasing modern houses and plots and thus stimulating economic development, she said, highlighting that last year a total of 280bn/- was channelled into the housing sector from the Diaspora.
Others bought shares totalling 6.45bn/- in the UTT Asset Management and Investors Services PLC (UTT AMIS), she stated, indicating that the legal improvement of their status will help boost this trend.
Elaborating on achievements of the tour, the president said Tanzania has received a long-term loan at a negligible interest rate of 0.01 percent due to its firm leadership in supervising credit flows.
The notable example was a loan which facilitated construction of the Tanzanite Bridge connecting the civil servants’ suburb with central government offices in the commercial capital.
Other examples of positive use of credit funds are those directed at improved agriculture and irrigation, she stated, underlining the quiet astonishment when the interest rate was mentioned.
“So this is a very big achievement because earlier the country's loan amount from that source didn’t exceed $1bn,” she stated.
January Makamba, the Foreign Affairs and East African Cooperation minister, said the tour was a historic event heightening diplomatic ties with South Korea.
He said that the president’s visits to various countries have brought positive outcomes in various sectors including trade, investment, tourism, export openings and others, thus stimulating the country’s development.
Ambassador Mavura Togolani who is posted in Seoul, said President Samia’s visit to the Asian country has opened up doors of investment in the blue economy and critical minerals investments, while enabling the country to obtain the $2.5bn concessional loan.
Tanzanians living in South Korea urged the government to put in place policies, guidelines and regulations that will attract investments, plus ensuring that commercial agreements do not hurt growth prospects.
They urged strengthening embassy capacity by increasing human resources as a priority, further improving services and marketing investment opportunities.
Similarly, the Tanzania Revenue Authority (TRA) needs to create a friendly environment in tax compliance, stopping predatory habits on taxpayers as enemies as this affects investment decisions, they added.
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