Simiyu Region has a lot of opportunities to offer which can attract both local and foreign investments. The Region investments potential span from tourism and related services, mining especially for salt and nickel, livestock and crops products processing, Economic Processing Zone (EPZ) and or Special Economic Zone (SEZ), banking and the service industries.
The identified investment opportunities can be divided into two categories, namely direct investment and investment on market linkages. Direct Investment focus on attracting investors, both local and foreign, to bring in capital for investing in the region by setting up facilities either to process raw materials into finished products or carry out medium and large scale processing of farm and livestock produces obtained locally in the Region which presently are underutilized.
Market linkages entail connecting smallholder farmers and other producers with companies that are willing to buy their products and access to markets. By so doing, market dealers will be in a position to support smallholder farmer’s, livestock keepers, small scale miners, Villages and Council managing the Wildlife Management Areas (WMA) and community in the region at large with skills on crop and animal husbandry, post harvest handling of harvested crops, processing and products control. The Regional Government and Local Authorities in Simiyu will organize smallholder farmers and producers in groups to facilitate easy access to markets and its interactions.
The large quantity of food and cash crops, abundance of livestock and the population full of hospitality in Simiyu Region provides an opportunity to medium and large scale producers to invest in farm and livestock product processing industries. Similarly, the local communities are hard worker and have adequate skills in modern farming practices to support the growth of these industries. However, what is missing is for the smallholder farmers and producers to be linked with the buyers who are ready to invest in the Region. The following sections try to summaries areas of investment opportunities existing in the Region.
This profile, therefore, provides prospective investors and interested parties with insightful information about investing in Simiyu, including:
• An overview of the main investment opportunities the region presents
• An summary of the geographical, political and economic characteristics of the country
• An introduction to the primary agency responsible for promoting and facilitating investment into the country, the Tanzania Investment Centre (TIC)
The overall objective of this investment profile for Region is therefore to inform potential investors and stakeholders on available opportunities for investment. It also identifies and locates existing investment opportunities and their challenges so that respective development partners for economic growth and poverty reduction can make the necessary interventions.
The profile comprises of seven chapters: Chapter One present important outlook and background of the region profile by highlighting key background information such as the economic context within which the region is operating, its location, climate and topography, ecological zones, administration, population and total area as well as concept and objective of investment.
Chapter Two gives an overview of the existing investment which has been explained in detail by looking the previous performance of each sector and the current situation. Chapter three gives an in – depth analysis of the investment opportunities in each sector. In this context, the profile tries to show up un-expoited opportunities available in the region, where by it provides basis for investors to analyse the feasibility investment opportunities available in the region.
Chapter Four shows up management and facilitation of investment; in this context the profile describes difference policy in favour of investors, land matters and disputes, prevailing facilitation center for investors’ i.e: TIC and the regional government in supporting investment in the region.
Reasons to Invest in Simiyu
•A climate suitable for tourism, agriculture and livestock production.
•Peace and political stability that offers a safe environment with low crime rates.
•High growth potential.
•Hardworking and inexpensive local communities with adequate skills in modern farming practices to support the growth of industries.
•A source of skills in the local education institutions
•Transport links with other regions and proximity to neighboring countries (Kenya, Uganda, Burundi, Rwanda, and DRC.)