DAR ES SALAAM: DIRECTOR General of the Tanzania Investment and Special Economic Zones Authority (TISEZA), Mr Gilead Teri, has urged Investment Service Providers (ISPs) to uphold professionalism in order to build a strong reputation that will attract more investments into the country.
He said professionalism entails providing quality services in line with TISEZA’s guidelines and regulations, as well as refraining from corrupt practices.
Mr Teri made the remarks over the weekend during an Investment Facilitation Training for Registered Investment Service Providers held in Dar es Salaam.
He underlined the importance of professionalism in building exemplary personal and institutional image while elevating Tanzania’s standing as a leading investment destination on the continent.
“The one thing we cannot risk is reputational risk to us and to the country. We expect a very high degree of professionalism,” Mr Teri said.
He assured participants that TISEZA will continue organising frequent training seminars and meetings to keep them updated on day-to-day changes in the country’s investment landscape.
“We need to see that every investor who comes to invest in Tanzania is attended to by professional and determined people,” he added.
ISPs comprise experts in a range of disciplines, including law and consultancy, from accredited firms such as the Tanganyika Law Society (TLS), who have been certified by TISEZA to offer professional assistance to investors seeking to inject capital into the country.
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Certificates are issued for a one-year period and are renewed based on performance. Mr Teri noted that the minimum academic qualification for ISPs is a bachelor’s degree.
He further urged service providers to leverage the expertise of TISEZA officials by collaborating with them in executing investment missions, including overseas outreach programmes aimed at attracting investors.
He also reminded them to take advantage of TISEZA’s One Stop Facilitation Centre (OSFC), which brings together 16 public entities, including the Tanzania Revenue Authority (TRA) and the Business Registration and Licensing Agency (BRELA), to ensure timely issuance of investment permits.
Mr Teri said the authority’s decision to certify all service providers is aimed at promoting accountability and efficiency, effectively ending the era of irresponsible providers who were previously reported to have misled investors.
He said TISEZA has, in its first batch, certified over 110 service providers who will undergo capacity-building training every three months.
In that regard, Mr Teri issued a stern warning to those who violate the guidelines, saying TISEZA will blacklist their companies from being used by investors.
In a related development, he encouraged service providers to explore opportunities in conducting feasibility studies in potential investment areas, noting that foreign investors, including those from the United Arab Emirates (UAE), prioritise projects that demonstrate projected returns before committing capital.
A service provider, Mr Mathias Mhina, a lawyer from Fin and Law, commended TISEZA for organising the training, saying it enabled him to familiarise himself with key guidelines for effective service delivery.
He pledged to uphold professionalism to renew investors’ trust and help attract both domestic and foreign investment.