Investment Act, No. 10 of 2022.

This Act, comprising 37 Articles divided into five Parts, aims to create a favourable environment for investments in Tanzania. It establishes conditions for business enterprises to be eligible for certain benefits and protections. To qualify, a business must meet specific requirements and cannot engage in activities related to mining, petroleum, hazardous chemicals, armaments, or explosives. The minimum investment capital needed depends on ownership status. Under Article 4 there shall continue to exist the Tanzania Investment Centre a one-stop centre for investors and the government's primary agency to coordinate, encourage, promote and facilitate investment and advise the Government on investment policy and related matters. All requests for certificates of incentives and protection under this Act, or to rehabilitate or expand an existing enterprise, must be submitted to the Centre, which will issue these certificates by the Regulations. The Centre shall maintain a register of all certified business enterprises containing such particulars as the Board may determine. Furthermore, a National Investment Steering Committee shall be established to effectively promote, facilitate, and implement investment projects in Tanzania. By the provision of Article 23, notable strategic investments shall be recognised and granted additional benefits. The article also indicates the cases in which a business enterprise is regarded as a strategic investment.
The Act contains several vital provisions outlined in the following Articles: Article 25 grants the government the power to enforce investment regulations that ensure investments adhere to the Act's objectives and principles. Article 26 delineates investor responsibilities, including compliance with Tanzanian laws, providing information to support investment institutions, prioritizing consumer and environmental protection, gender balance, and skills development. Investors are also required to submit annual project reports, utilize local resources, and permit incentive monitoring by the Centre. Article 29 safeguards business enterprises from nationalization or expropriation. Article 30 provides business enterprises holding incentive certificates the entitlement to an immigrant quota under non-citizen employment laws, facilitated by the Centre. Article 31 permits foreign investors to secure credit from domestic banks and financial institutions within limits set by the Bank of Tanzania in consultation with the Centre, ensuring its usage for specified activities, with potential verification by the bank-appointed agent.