The government has assured international community that it will this year continue to take measures to improve investment climate in the country.
President Jakaya Kikwete gave the assurance in Dar es Salaam on Tuesday at the New Year Sherry Party he hosted for heads of diplomatic missions.
He said the government will increase advocacy about the investment potential of Tanzania.
“We are in the process of identifying specific productive and service sectors and subsectors to be afforded special attention this year,” he said.
He said the government is not quite happy with the scores it has been getting in some indicators on Doing Business Reports.
“We are working to improve matters in the identified areas of weakness.
With regard to Foreign Direct Investment, we will continue to rely on your support and cooperation to tell investors in your respective countries to come and take advantage of Tanzania’s immense potential,” he added.
On the economic front, President Kikwete said the year 2011 was not easy for the country as has been the case for many countries in the world.
“For a poor country like ours, the shocks became severe because of being weak and unable to withstand the effects and respond effectively, he stated.
According to him the rising global oil and food prices, the slow recovery of the global economy, the Euro zone crisis, the weakening of the Tanzanian shilling as well as power rationing and food shortages in 36 districts occasioned by drought have affected negatively the pace of our economic growth and price stability.
President Kikwete said he was confident with the plans and programmes the government intended to initiate and, if it gets the support of partners and friends of Tanzania, it should be able to rise to the challenges and prevail.
He said the government would strive to ensure that inflation is brought down to single digit by June this year, from the current 19.5 per cent.
However he said overcoming the poverty remains the topmost priority development agenda.
He thanked friends and development partners for the invaluable support and cooperation which has contributed in a very special way to the progress achieved to date in Tanzania.