The United Republic of Tanzania Prime Minister’S Office

Total Page:16

File Type:pdf, Size:1020Kb

The United Republic of Tanzania Prime Minister’S Office THE UNITED REPUBLIC OF TANZANIA PRIME MINISTER’S OFFICE NATIONAL ECONOMIC EMPOWERMENT COUNCIL REPORT OF THE TANZANIA LOCAL CONTENT FORUM HELD AT THE BANK OF TANZANIA CONFERENCE CENTRE (MT. KILIMANJARO AUDITORIUM), DAR ES SALAAM ON 21st AND 22nd JULY, 2016 Prepared by; National Economic Empowerment Council (NEEC), 12 Kivukoni Front, P.O Box 1734, Dar es Salaam Tel: +255 22 2137362 Fax: +255 22 2125596 Email : [email protected] Website : www.uwezeshaji.go.tz 1 TABLE OF CONTENTS ACRONYMS AND ABBREVIATIONS ..................................................................................................... 4 1.0 INTRODUCTION ............................................................................................................................ 6 1.1 BACKGROUND .............................................................................................................................. 6 DAY ONE-21st JULY, 2016 ......................................................................................................................... 8 2.0 OPENING SPEECHES .................................................................................................................... 8 2.1 WELCOMING REMARKS BY MRS. BENG’I ISSA, THE EXECUTIVE SECRETARY OF THE NATIONAL ECONOMIC EMPOWERMENT COUNCIL ............................................................ 8 2.2 WORD FROM THE MAIN SPONSOR OF THE FORUM AFRICAN RISK INSURANCE SERVICES (ARIS) GROUP MANAGING DIRECTOR ........................................................................ 8 2.3 STATEMENT FROM THE CHAIRMAN OF THE TANZANIA PRIVATE SECTOR FOUNDATION (TPSF) DR. REGINALD MENGI ................................................................................. 9 2.4 INTRODUCTORY REMARKS BY THE PERMANENT SECRETARY, PRIME MINISTER’S OFFICE DR. HAMIS MWINYIMVUA ......................................................................... 10 2.5 OPENING REMARKS BY THE GUEST OF HONOUR - MINISTER FOR STATE PRIME MINISTER’S OFFICE - HON. JENISTER MHAGAMA (MP) ............................................................ 10 3.0 PANEL PRESENTATIONS ........................................................................................................... 11 3.1 MINISTERIAL PANEL ............................................................................................................. 11 3.1.1 Ministry of Energy and Minerals ........................................................................................ 11 3.1.2 Ministry of Works, Transportation and Communications .................................................. 12 3.1.3 Ministry of Information, Culture, Arts and Sports .............................................................. 13 3.1.4 Prime Minister’s Office -Labour, Youth, Employment and People With Disabilities ....... 14 3.1.5 Ministry of Industries, Trade and Investments. .................................................................. 15 4.0 DRAFT LOCAL CONTENT TRACKING TOOL BY JACKSON GROUP ................................ 16 5.0 PANEL SESSIONS ........................................................................................................................ 16 5.1 DEVELOPMENT PARTNERS AND INVESTORS PANEL ................................................... 16 2 5.2 HOST COMMUNITY ENGAGEMENT PANEL...................................................................... 18 5.3 LOCAL CONTENT IN PROCUREMENT AND EMPLOYMENT ......................................... 21 5.4 LESSONS LEARNT INTERNATIONAL PANEL ................................................................... 23 5.5 LESSONS LEARNT (LOCAL INVESTMENTS AND OPPORTUNITIES) ........................... 26 6.0 GOVERNMENT EFFORTS IN INVOLVING THE PRIVATE SECTOR ................................... 28 7.0 WAY FORWAD ............................................................................................................................. 28 8.0 CLOSING OF THE FORUM ......................................................................................................... 30 ANNEXES .................................................................................................................................................. 31 ANNEX I .................................................................................................................................................... 31 MODERATORS AND PANELISTS ......................................................................................................... 31 ANNEX II ................................................................................................................................................... 33 LIST OF PARTICIPANTS: ........................................................................................................................ 33 Chief Executive Officer .............................................................................................................................. 33 ANNEX: III ................................................................................................................................................ 45 RAPPORTEURS – NEEC STAFF ............................................................................................................. 45 ANNEX: IV ................................................................................................................................................ 46 LOCAL CONTENT FORUM SPONSORS ............................................................................................... 46 3 ACRONYMS AND ABBREVIATIONS AfDB: African Development Bank NHIF: National Health Insurance Fund AGA-GGM: AngloGold Ashanti - Geita NRGI: Natural Resource and Gold Mine Governance Institute ARIS: African Risk and Insurance Services NSDS: National Skills Development ATE: Association of Tanzania Strategy Employers OGAT: Oil and Gas Association of BOT: Bank of Tanzania Tanzania CCM: Chama Cha Mapinduzi PMO: Prime Minister’s Office CTI: Confederation of Tanzania PPP: Public-Private Partnership Industries PPRA: Public Procurement Regulatory CRB: Contractors Registration Board Authority COSTECH: Tanzania Commission for PURA: Petroleum Upstream Regulatory Science and Technology Authority DIT: Dar es Salaam Institute of PWDs: People with Disabilities Technology REA: Rural Electrification Agency DSE: Dar es Salaam Stock Exchange REPOA: Research and Poverty EEVT: Enhanced Employabiity in Alleviation Vocational Training SAGCOT: Southern Agricultural Growth ESRF: Economic Social Research Corridor of Tanzania Foundation SME: Small Medium Enterprises EU: European Union TCCIA: Tanzania Chamber of EWURA: Energy and Water Utilities Commerce, Industry and Regulatory Authority Agriculture FDIs: Foreign Direct Investments TDV: Tanzania Development Vision GDP: Gross Domestic Product 2025 GNT: Government Negotiation Team TASU: Tanzania seafarers`union GPN: General Procurement Notice TIC: Tanzania Investment Centre ICS: International Citizen Services TIRA: Tanzania Insurance Regulatory ILFS: Integrated Labour Force Survey Authority LC: Local Content TIMAP: Tanzania Informal Microfinance LNG: Liquefied Natural Gas Association of Practioners M.P: Member of Parliament T-LED: Tanzania-Local Enterprise MEM: Ministry of Energy and Development Minerals TMAA: Tanzania Minerals and Auditing MITI: Ministry of Industry, Trade and Agency Investment TNBC: Tanzania National Business NDC: National Development Council Corporation TANROAD: Tanzania National Roads NEEC: National Economic Agency Empowerment Council TanTrade: Tanzania Trade Development NEMC: National Environment Authority Management Council TIBA: Tanzania Insurance Broker NIT: National Institute of Transport Association NHBRA: National Housing Building and TPDC: Tanzania Petroleum Research Agency Development Corporation 4 TIRDO: Tanzania Industrial Research and Development Organization TPSF: Tanzania Private Sector Foundation TSP: Tanzania Steel Pipes Limited TYC: Tanzania Youth Coalition UNDP: United Nations Development Programme VETA: Vocational Education and Training Authority VICOBA-FETA: Village Community Bank Federation of Tanzania VSO: Voluntary Services Overseas YEE: Youth Economic Empowerment 5 1.0 INTRODUCTION 1.1 BACKGROUND In 2004 the Government of Tanzania developed the National Economic Empowerment Policy which aimed to increase the participation of Tanzanians in building the economy of their country to achieve the Tanzania Development Vision 2025. The Policy sets various strategies to achieve this goal which includes amongst others the establishment of the National Economic Empowerment Council to oversee the implementation of the Policy. The National Economic Empowerment Council (NEEC) is a Government institution established under the National Economic Empowerment Act No. 16 of 2004. NEEC has the mandate of implementing the National Economic Empowerment Policy of 2004 by supervising, coordinating, and monitoring all economic empowerment activities. Among other things NEEC is required to spearhead Local Content initiatives in all sectors of the economy to ensure effective participation of the majority of Tanzanians in Foreign Direct Investments, large domestic investments and international contracts. Recently, there has been tremendous growth of investments in the oil and gas sector in various countries in Africa. In Tanzania the discovery of natural gas was made in 2010 in the offshore of the southern part of the country. This discovery is expected to attract massive foreign investments in the region. In order to ensure that Tanzanians benefit
Recommended publications
  • World Bank Document
    CA. 7h?F Document of The World Bank FOR OFFICIAL USE ONLY Public Disclosure Authorized Report No. P-3547-TA REPORT AND RECOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL DEVELOPMENT ASSOCIATION TO THE EXECUTIVE DIRECTORS Public Disclosure Authorized ON A PROPOSED DEVELOPMENT CREDIT OF SDR 5.9 MILLION (AN AMOUNT EQUIVALENT TO US$6.3 MILLION) TO THE UNITED REPUBLIC OF TANZANIA Public Disclosure Authorized FOR A COAL ENGINEERING PROJECT .May 2, 1983 Public Disclosure Authorized This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank authorization. CURRENCY EQUIVALENTS Currency Unit = Tanzania Shilling (TSh) TSh 1.00 = US$0.11 US$1.00 = TSh 9.40 US$1.00 = SDR 0.927 (As the Tanzania Shilling is officially valued in relation to a basket of the currencies of Tanzania's trading partners, the USDollar/Tanzania Shilling exchange rate is subject to change. Conversions in this report were made at US$1.00 to TSh 9.40 which was the level set in the most recent exchange rate adjustment in March 1982. The USDollar/SDR exchange rate used in this report is that of March 31, 1983.) ABBREVTATIONS AND ACRONYMS CDC - Colonial (now Commonwealth) Development Corporation MOM - Ministry of Minerals MWE - Ministry of Water and Energy STAMICO - State Mining Corporation TANESCO - Tanzania Electric Supply Company TPDC - Tanzania Petroleum Development Corporation toe - tonnes of oil equivalent tpy - tonnes per year FISCAL YEAR Government - July 1 to June 30 TrANZANIA FOR OFFICIAL USE ONLY Coal Engineering Project Credit and Project Summary Borrower: United Republic of Tanzania Beneficiary: Ministry of Minerals (MOM) and State, Mining Corporation (STAMICO) Amount: SDR 5.9 million (US$6.3 million equivalent) Terms: Standard Project Description: The project would support Government efforts ro evaluate the economic potential of the indigenous coal resources of Tanzania.
    [Show full text]
  • Intra Energy Corporation Limited (ABN 65 124 408 751)
    Intra Energy Corporation Limited (ABN 65 124 408 751) Annual Financial Report For the year ended 30 June 2019 Contents Page Corporate Directory 3 Chairman’s Report 4 Review of Operations 6 Directors’ Report 10 Remuneration Report 15 Auditor’s Independence Declaration 23 Directors’ Declaration 24 Independent Auditor’s Report 25 Consolidated Statement of Profit or Loss and Other Comprehensive Income 31 Consolidated Statement of Financial Position 32 Consolidated Statement of Cash Flows 33 Consolidated Statement of Changes in Equity 34 Notes to the Financial Statements 35 ASX Additional Information 73 Page 2 Corporate Directory DIRECTORS Graeme Robertson (Chairman) Troy Wilson (appointed 4 October 2017) Alan Fraser (appointed 24 August 2018) Marc Schwartz (appointed 31 July 2019) David Nolan (resigned 24 August 2018) James Shedd (Managing Director appointed 7 November 2018) COMPANY SECRETARY Rozanna Lee REGISTERED OFFICE - AUSTRALIA Level 40, 2 Park Street Sydney NSW 2000 Email: [email protected] REGISTERED OFFICE - TANZANIA Amverton Tower Plot No 1127 Chole Road, Masaki PO Box 23059 Dar es Salaam, Tanzania REGISTERED OFFICE - MALAWI Room number 15 Africana Complex City Centre Lilongwe, Malawi SHARE REGISTRY Link Market Service Limited Level 12, 680 George Street Sydney NSW 2000 Telephone: (02) 8280 7111 Facsimile: (02) 9287 0309 AUDITORS Hall Chadwick Level 40, 2 Park Street Sydney NSW 2000 Telephone: (02) 9263 2600 Facsimile: (02) 9263 2800 INTERNET ADDRESS www.intraenergycorp.com.au ABN 65 124 408 751 ASX CODE (IEC) Page 3 Chairman’s Report On behalf of the Board of Directors of Intra Energy Corporation Limited ("IEC", "Intra Energy" or "the Company"), it is my pleasure to present this summary of operations for this Annual Financial Report for 2019.
    [Show full text]
  • Occasional Paper 272 Occasional Paper
    POWER AND THE PRIVATE SECTOR IN TANZANIA: PROSPECTS FOR THE AFDB’s HIGH FIVES STRATEGY CYRIL PRINSLOO & TALITHA BERTELSMANN-SCOTT OCCASIONAL PAPER 272 OCCASIONAL PAPER NOVEMBER 2017 SOUTH AFRICAN INSTITUTE OF INTERNATIONAL AFFAIRS The South African Institute of International Affairs (SAIIA) has a long and proud record as South Africa’s premier research institute on international issues. It is an independent, non-government think tank whose key strategic objectives are to make effective input into public policy, and to encourage wider and more informed debate on international affairs, with particular emphasis on African issues and concerns. It is both a centre for research excellence and a home for stimulating public engagement. SAIIA’s occasional papers present topical, incisive analyses, offering a variety of perspectives on key policy issues in Africa and beyond. Core public policy research themes covered by SAIIA include good governance and democracy; economic policymaking; international security and peace; and new global challenges such as food security, global governance reform and the environment. Please consult our website www.saiia.org.za for further information about SAIIA’s work. ECONOMIC DIPLOMACY PROGRAMME SAIIA’s Economic Diplomacy (EDIP) Programme focuses on the position of Africa in the global economy, primarily at regional, but also at continental and multilateral levels. Trade and investment policies are critical for addressing the development challenges of Africa and achieving sustainable economic growth for the region. EDIP’s work is broadly divided into three streams. (1) Research on global economic governance in order to understand the broader impact on the region and identifying options for Africa in its participation in the international financial system.
    [Show full text]
  • Country Commercial Guide for U.S. Companies (2018)
    Tanzania 2018 1 2018 Country Commercial Guide for U.S. Companies Table of Contents Doing Business in Tanzania ............................................................................................................................... 5 Market Overview .......................................................................................................................................................... 5 Market Challenges ....................................................................................................................................................... 6 Market Opportunities ................................................................................................................................................. 6 Market Entry Strategy ................................................................................................................................................ 6 Political and Economic Environment ............................................................................................................. 8 Selling U.S. Products and Services ................................................................................................................... 9 Using an Agent to Sell US Products and Services ................................................................................................ 9 Establishing an Office .................................................................................................................................................. 9 Direct Marketing .........................................................................................................................................................
    [Show full text]
  • European Investment in Tanzania: How European Investment Contributes to Industrialisation and Development in Tanzania
    EU market study:EU market study 17/10/2016 11:54 Page 1 European Investment in Tanzania: How European investment contributes to industrialisation and development in Tanzania Funded by the European Union EU market study:EU market study 17/10/2016 11:54 Page 2 European Investment in Tanzania: How European investment contributes to industrialisation and development in Tanzania Funded by the European Commission Written by Ashley Elliot © European Commission, Dar es Salaam, 2016 The content of this publication does not reflect the official opinion of the European Commission. Responsibility for the information and views expressed in the publication lies entirely with the author. "EU" refers to the European Union, and "EU+SN" to the members of the European Union and the Economic Free Trade Area (EFTA), unless otherwise indicated. For further inquiries or clarifications please contact [email protected]. A project implemented by consortium led by POHL CONSULTING & ASSOCIATES GMBH EU market study:EU market study 17/10/2016 11:54 Page 3 European Investment in Tanzania: How European investment contributes to industrialisation and development in Tanzania Funded by the European Union EU market study:EU market study 17/10/2016 11:55 Page 4 European Investment in Tanzania: How European investment contributes to industrialisation and development in Tanzania Foreword by Ambassador Roeland van de Geer, Head of the Delegation of the European Union to Tanzania and the East African Community As the Government of Tanzania and international partners join forces to lift millions of Tanzanians out of poverty, the role of trade and investment in the fight against poverty is increasingly recognised.
    [Show full text]
  • Tanzania 2020
    Tanzania 2020 1 2020 Country Commercial Guide for U.S. Companies Table of Contents Market Overview 5 Market Challenges 6 Market Opportunities 6 Market Entry Strategy 6 Political and Economic Environment 52 Selling U.S. Products and Services 8 Using an Agent to Sell US Products and Services 35 Establishing an Office 37 Direct Marketing 38 Joint Ventures/Licensing 38 Selling to the Government 38 Distribution & Sales Channels 37 Selling Factors and Techniques 35 eCommerce 37 Trade Promotion and Advertising Error! Bookmark not defined. Pricing 36 Sales Service/Customer Support 36 Due Diligence 38 Local Professional Services 36 Leading Sectors for U.S. Exports and Investment 38 Healthcare 8 Agriculture and Agricultural Processing 11 Energy Sector 16 Mining 21 Transport Infrastructure 26 Travel and Tourism 30 Trade Regulations, Customs and Standards 41 Import Tariffs 41 Trade Barriers 41 Import Requirements and Documentation Error! Bookmark not defined. 2 U.S. Export Controls 41 Temporary Entry 41 Labeling/Marking Requirements 42 Prohibited & Restricted Imports 42 Customs Regulations 43 Trade Standards 43 Trade Agreements 44 Web Resources 44 Investment Climate Statement 46 Executive Summary 50 Methods of Payment 38 Banking Systems Error! Bookmark not defined. Foreign Exchange Controls Error! Bookmark not defined. US Banks and Local Correspondent Banks Error! Bookmark not defined. Project Financing Error! Bookmark not defined. Business Travel 51 Business Customs Error! Bookmark not defined. Travel Advisory Error! Bookmark not defined. Visa Requirements 46 Telecommunications/Electric 46 Transportation Error! Bookmark not defined. Language Error! Bookmark not defined. Health Error! Bookmark not defined. Local Time, Business Hours, & Holidays 47 Temporary Entry of Materials and Personal Belongings Error! Bookmark not defined.
    [Show full text]
  • Tanzania Economic Outlook 2016 the Story Behind the Numbers
    Tanzania Economic Outlook 2016 The Story Behind the Numbers Disclaimer This publication contains general information only, and none of Deloitte Touche Tohmatsu Limited, its member firms, or its and their affiliates are, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your finances or your business. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser. None of Deloitte Touche Tohmatsu Limited, its member firms, or its and their respective affiliates shall be responsible for any loss whatsoever sustained by any person who relies on this publication. 2 | Economic Outlook 2016 Preamble The Tanzania Economic Outlook 2016 report provides an overview of Tanzania’s economic environment and key sectors. The report also highlights significant allocations from the 2016/17 budget to various sectors in the country. June 2016 Economic Outlook 2016 | 3 Tanzania Economic Review Political overview Economic overview Tanzania held peaceful general elections on 26 October 2015 with According to the 2016/17 budget real Gross Domestic Product Dr John Magufuli winning the presidential seat through a Chama (GDP) is forecast to grow by 7.2% in 2016 as compared to 7% in Cha Mapinduzi (CCM) ticket. The win cements CCM’s dominance in 2015; driven by rising private consumption and strong growth in the Tanzania’s political scene and its position as the longest ruling party in telecommunications, construction, port and service sectors.
    [Show full text]
  • The Facts and Risks of Building Stiegler's Gorge Hydropower Dam In
    REPORT 2017 THE TRUE COST OF POWER THE FACTS AND RISKS OF BUILDING STIEGLER’S GORGE HYDROPOWER DAM IN SELOUS GAME RESERVE, TANZANIA ACKNOWLEDGEMENTS The two reports were independently written by Barnaby Dye and Joerg Hartmann. WWF WWF is one of the world’s largest and most experienced independent conservation organizations, with over 5 million supporters and a global network active in more than 100 countries. WWF’s mission is to stop the degradation of the planet’s natural environment and to build a future in which humans live in harmony with nature, by conserving the world’s biological diversity, ensuring that the use of renewable natural resources is sustainable, and promoting the reduction of pollution and wasteful consumption. The designation of geographical entities in this report, and the presentation of the material, do not imply the expression of any opinion whatsoever on the part of WWF concerning the legal status of any country, territory, or area, or of its authorities, or concerning the delimitation of its frontiers or boundaries. Published in July 2017 by WWF – World Wide Fund For Nature (Formerly World Wildlife Fund), Gland, Switzerland. Any reproduction in full or in part must mention the title and credit the above-mentioned publisher as the copyright owner. © Text 2017 WWF All rights reserved Design: Louise Clements Design Ltd WWF International Avenue du Mont-Blanc 1196 Gland, Switzerland www.panda.org Cover image: Fishing boat in Kilindoni harbour, Mafia Island, Tanzania. The proposed Stiegler’s Gorge dam will have far reaching risks that extend over 180 kilometres to the rich fisheries off the Rufiji Delta and Mafia Island.
    [Show full text]
  • WHY INVEST in TANZANIA an Overview of Investment Climate, Opportunities, Trends & Services Provided by Tanzania Investment Centre
    WHY INVEST IN TANZANIA An Overview of Investment Climate, Opportunities, Trends & Services Provided by Tanzania Investment Centre 1 © 2015 Tanzania Investment Centre (TIC) Agenda Introduction Why Invest in Tanzania Economic Overview Investment Opportunities Investment Incentives Investment Trends 2 © 2015 Tanzania Investment Centre (TIC) Introduction 3 © 2015 Tanzania Investment Centre (TIC) Introduction to TIC Coordinating, promoting and facilitating Tanzania Investment Centre (TIC) is the primary Vision agency of the Government responsible for coordinating, encouraging, promoting and To become a world class Investment Promotion Agency promoting facilitating investments Tanzania as Africa’s premier investment destination . Mission: Functions of TIC To contribute to the sustainable economic development of Tanzania • Creating and maintaining a positive climate for through attraction of new investment and maximizing its impact on private sector investment; the economy. • Providing advice to the Government on investment related matters; • Stimulating local and foreign investments; Types of Investment TIC Supports • Facilitating foreign and local investors; • Foreign Owned Investments Minimum Capital > US$ 500,000 • Locally owned investments minimum capital > US$ 100,000 • Stimulating and supporting the growth of • Industries/Sectors not included: Mining, Oil and Gas Entrepreneurship and SMEs in Tanzania; • Providing and disseminating up-to-date information on investment opportunities and incentive available to investors; • Monitoring the Tanzania business environment and growth of Foreign Direct Investment (FDI) in the Country. 4 © 2015 Tanzania Investment Centre (TIC) TIC One Stop Center Services Our commitment to investors Our Services Our Commitment to Investors 1. Assists investors to obtain all permits, licenses and Meeting with TIC staff Immediately visas 2. Grants land derivative rights to investors Arranging appointments 24 hours 3.
    [Show full text]
  • Roskilde University
    Roskilde University The Return of The State A Political Economy of Resource Nationalism and Revived State-Owned Enterprises in Tanzania’s Coal Sector Jacob, Thabit Publication date: 2020 Document Version Publisher's PDF, also known as Version of record Citation for published version (APA): Jacob, T. (2020). The Return of The State: A Political Economy of Resource Nationalism and Revived State- Owned Enterprises in Tanzania’s Coal Sector. Roskilde Universitet. FS & P Ph.D. afhandlinger General rights Copyright and moral rights for the publications made accessible in the public portal are retained by the authors and/or other copyright owners and it is a condition of accessing publications that users recognise and abide by the legal requirements associated with these rights. • Users may download and print one copy of any publication from the public portal for the purpose of private study or research. • You may not further distribute the material or use it for any profit-making activity or commercial gain. • You may freely distribute the URL identifying the publication in the public portal. Take down policy If you believe that this document breaches copyright please contact [email protected] providing details, and we will remove access to the work immediately and investigate your claim. Download date: 10. Oct. 2021 ROSKILDE UNIVERSTY DOCTORAL SCHOOL OF SOCIAL SCIENCES AND BUSINESS PhD Thesis THE RETURN OF THE STATE: A POLITICAL ECONOMY OF RESOURCE NATIONALISM AND REVIVED STATE-OWNED ENTERPRISES IN TANZANIA’S COAL SECTOR. Thabit Jacob Supervision Lars Buur (Supervisor) Faustin Maganga (Co-supervisor) ISSN no. 0909-9174 October 2020 THE RETURN OF THE STATE: A POLITICAL ECONOMY OF RESOURCE NATIONALISM AND REVIVED STATE-OWNED ENTERPRISES IN TANZANIA’S COAL SECTOR.
    [Show full text]
  • A Case Study on Economic Development of Tanzania
    Journal of the International Academy for Case Studies Volume 26, Issue 1, 2019 A CASE STUDY ON ECONOMIC DEVELOPMENT OF TANZANIA Vishwas Gupta, Lovely Professional University ABSTRACT The United Republic of Tanzania is one of the East African countries landlocked by 8 different nations has a literacy rate of almost 70% and is growing by 7% of GDP per year. It is a $ 80 billion economy with a per capita income of almost $1700. The nation which has almost 15% of agriculture land offers 80% employment in agriculture area only rest 20% is employed in industries and services. Except agriculture main industries are mining and wood products. The presence of mineral resources, tourism and natural gas has led to an increase in the attraction of foreign investors into the country by 14.5 percent. FDI has covered almost half of the country’s current account deficit and 6.5 percent of its GDP. Investors are attracted due to proper implementation of macroeconomic policies, effectiveness in privatization and amount of natural resources available in Tanzania. The main obstacles to why some investors tend to withdraw capital inflows are lack of transparency, infrastructure, and low development in industrial sector. The following case will highlight the economic development and hindrance faced by Tanzania and how is has overcome and growing rapidly. Keywords: Tanzania, Economic Development, Trade, Africa, Agriculture, Services, PESTLE Analysis INTRODUCTION Tanzania is one among the developing countries in the world and is the second largest economy in the East African community. Most people live in poverty meaning they have no access to basic necessities of life.
    [Show full text]
  • 2019 for Personal Use Only Use Personal for Contents
    Intra Energy Corporation Limited (ABN 65 124 408 751) Annual Financial Report For the year ended 30 June 2019 For personal use only Contents Page Corporate Directory 3 Chairman’s Report 4 Review of Operations 6 Directors’ Report 10 Remuneration Report 15 Auditor’s Independence Declaration 23 Directors’ Declaration 24 Independent Auditor’s Report 25 Consolidated Statement of Profit or Loss and Other Comprehensive Income 31 Consolidated Statement of Financial Position 32 Consolidated Statement of Cash Flows 33 Consolidated Statement of Changes in Equity 34 Notes to the Financial Statements 35 ASX Additional Information 73 For personal use only Page 2 Corporate Directory DIRECTORS Graeme Robertson (Chairman) Troy Wilson (appointed 4 October 2017) Alan Fraser (appointed 24 August 2018) Marc Schwartz (appointed 31 July 2019) David Nolan (resigned 24 August 2018) James Shedd (Managing Director appointed 7 November 2018) COMPANY SECRETARY Rozanna Lee REGISTERED OFFICE - AUSTRALIA Level 40, 2 Park Street Sydney NSW 2000 Email: [email protected] REGISTERED OFFICE - TANZANIA Amverton Tower Plot No 1127 Chole Road, Masaki PO Box 23059 Dar es Salaam, Tanzania REGISTERED OFFICE - MALAWI Room number 15 Africana Complex City Centre Lilongwe, Malawi SHARE REGISTRY Link Market Service Limited Level 12, 680 George Street Sydney NSW 2000 Telephone: (02) 8280 7111 Facsimile: (02) 9287 0309 AUDITORS Hall Chadwick Level 40, 2 Park Street Sydney NSW 2000 Telephone: (02) 9263 2600 Facsimile: (02) 9263 2800 INTERNET ADDRESS www.intraenergycorp.com.au ABN 65 124 408 751 ASX CODE (IEC) For personal use only Page 3 Chairman’s Report On behalf of the Board of Directors of Intra Energy Corporation Limited ("IEC", "Intra Energy" or "the Company"), it is my pleasure to present this summary of operations for this Annual Financial Report for 2019.
    [Show full text]