United Republic of Tanzania
Implements new Investment Act - including new facilitation measures (1/2)
22 Dec 2022
On December 2, 2022, the Parliament of Tanzania passed the new Tanzania Investment Act, 2022 in Kiswahili. This Act includes several changes from the repealed law. These include:
- reducing the minimum investment capital for locally owned businesses to benefit from the benefits and protection of the Act from $100,000 to $50,000;
- mandating the Tanzania Investment Centre to create an integrated electronic system to be accessed by all essential Government regulatory bodies responsible for issuing various permits, consents, approvals, and licenses relevant to investment;
- identifying circumstances that result in the cancellation of the issued certificates of incentives;
- providing for an additional function of the Tanzania Investment Centre to deal with investor-related disputes.
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Type:
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Treatment and operation (Dispute settlement)
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Promotion and facilitation (Investment facilitation , Investment incentives)
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Industry:
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Sources:
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Special Gazette of the United Republic of Tanzania No. 36 Vol. 103 dated 31 st August, 2022, Tanzania Investment Act 2022, https://oagmis.agctz.go.tz/portal/bills/eyJpdiI6IlE1K2VIcHNJMVhvTWsrcmp3bEQ2SWc9PSIsInZhbHVlIjoiRXQ1cjM0VVZvN0JMdCtaOE9wNnIxQT09IiwibWFjIjoiZDcxNzMyMzRlNGUzM2NmNGI3MmE0M2E1NGRmMzQ4YTg1NTQ0OTkxYmQ0YWRiYzBhZWIyMzFjM2M2ZDc2MmE4ZiJ9, 31 Aug 2022
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ABC Attorney, TANZANIA ENACTS A NEW INVESTMENT ACT 2022.pdf, https://abcattorneys.co.tz/tanzania-enact-a-new-investment-act-2022/?pdf=14250, 22 Dec 2023
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FB Attorney, Tanzania Investment Act 2022-English version, https://oagmis.agctz.go.tz/portal/acts/238, 22 Dec 2022
