Summary
So far, TISEZA has certified over 110 service providers in its first batch, who will undergo capacity-building training every three months.
DAR ES SALAAM: Investment Service Providers (ISPs) in Tanzania have been urged to uphold high standards of professionalism to build a strong reputation and attract greater investment into the country.
Mr. Gilead Teri, Director General of the Tanzania Investment and Special Economic Zones Authority (TISEZA), emphasized the need for every investor in Tanzania to be assisted by competent and dedicated professionals.
He highlighted that professionalism is crucial for fostering a positive personal and institutional image, as well as enhancing Tanzania’s position as a premier investment destination in Africa.
Mr. Teri made these remarks during a recent Investment Facilitation Training for Registered Investment Service Providers in Dar es Salaam.
He explained that professionalism involves delivering quality services in compliance with TISEZA’s guidelines and regulations, while strictly avoiding corrupt practices.
“We must ensure that every investor coming to Tanzania is attended to by professional and determined individuals,” he stated. “Reputational risk, both for ourselves and the country, is something we cannot afford. We expect the highest degree of professionalism.” he said.
He assured participants that TISEZA will continue to organize regular training seminars and meetings to keep them informed of ongoing developments in the country’s investment climate.
ISPs are accredited experts from fields such as law and consultancy, including members of organizations like the Tanganyika Law Society (TLS), who are certified by TISEZA to offer professional guidance to investors. Certificates are valid for one year and are renewable based on performance.
Mr. Teri noted that a bachelor’s degree is the minimum academic requirement for ISPs.
He further encouraged service providers to collaborate with TISEZA officials on investment missions, including overseas outreach programs designed to attract investors.
Mr. Teri also reminded ISPs to utilize TISEZA’s One Stop Facilitation Centre (OSFC), which integrates 16 public entities, such as the Tanzania Revenue Authority (TRA) and the Business Registration and Licensing Agency (BRELA), to expedite the issuance of investment permits.
The certification of all service providers, he added, aims to enhance accountability and efficiency, putting an end to the era of irresponsible providers who were previously reported to have misled investors.
So far, TISEZA has certified over 110 service providers in its first batch, who will undergo capacity-building training every three months.
In this regard, Mr. Teri issued a strong warning to those who violate the guidelines, stating that TISEZA will blacklist their companies from being engaged by investors.
In a related note, he encouraged service providers to explore opportunities in conducting feasibility studies for potential investment areas.
He pointed out that foreign investors, including those from the United Arab Emirates (UAE), prioritize projects with clear projected returns before committing capital.
One of the participants, Mr. Mathias Mhina, a lawyer from Fin and Law, praised TISEZA for organizing the training, noting that it helped him better understand key guidelines for effective service delivery.
He pledged to maintain professionalism to restore investor confidence and support efforts to attract both domestic and foreign investment.
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