CHALLENGES
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to ease the process for starting anew business and in improving access to land and labor in Tanzania. Progress on more complex strategic priorities,
such as identifying and promoting sources of growth, however, has been more elusive.
The Investment Climate Facility (ICF) is another private-public partnership initiated under the New Economic Partnership for Africa’s Development, launched on June 1, 2006. The objectives of ICF include i)
encouraging, developing, and working with coalitions for investment- climate reform and supporting business-government dialogues (ii) supporting governments in creating a legal, regulatory, and administrative environment that encourages businesses
at all levels to invest, grow, and create jobs and (iii) improving Africa’s image as an investment destination through a coordinated effort to publicize improvements that have been made in the investment climate.
This initiative, together with the efforts of some African governments,
may improve the investment climate of Africa and balance FDI inflows across the world.
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However, the effectiveness of the agency is still too early to assess.
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