Tanzania’s President Hon. Dr. John Magufuli has appointed Mr. Geoffrey Idelphonce Mwambe as Executive Director of the Tanzania Investment Centre (TIC), with immediate effect.
The Tanzania Investment Centre (TIC) was established in 1997 to be the Primary Agency of the Government to coordinate, encourage, promote and facilitate investment in Tanzania and to advise the Government on investment policy and related matters.
The agency deals with all enterprises whose minimum capital investment is not less than USD500,000 if foreign owned or USD100,000 if locally owned.
Tanzania TIC Investment Assistance
As an investment facilitator, TIC:
- – Assists investors to obtain all permits, licenses and visas;
- – Grants land derivative rights to investors;
- – Assists investors to navigate administrative and regulatory hurdles;
- – Provides an ‘aftercare’ service to TIC registered investors.
Tanzania TIC Functions
- – Creating and maintaining a positive climate for private sector investment;
- – Providing advice to the Government on investment related matters;
- – Stimulating local and foreign investments;
- – Facilitating foreign and local investors;
- – Stimulating and supporting the growth of Entrepreneurship and SMEs in Tanzania;
- – Providing and disseminating up-to-date information on investment opportunities and incentive available to investors;
- – Monitoring the Tanzania business environment and growth of Foreign Direct Investment (FDI) in the country.
Tanzania TIC Activities
- – Proactive response to investor needs;
- – Stimulating and facilitating development of entrepreneurial skills and growth of domestic investors including Small and Medium scale Enterprises (SMEs);
- – Servicing the National Investment Steering Committee (NISC);
- – Facilitating SMEs growth and their linkages with joint venture partners;
- – Monitoring the flow of FDI;
- – Organizing investment forums;
- – Continually assessing Tanzania’s investment competitiveness;
- – Promoting Tanzania as a viable investment destination;
- – Policy advocacy;
- – Changing the government culture through sensitization seminars.
The Tanzania Investment Centre (TIC) plans to attract USD5b Foreign Direct Investments (FDI) to the country by 2020 to boost its economic growth.
The Tanzania Investment Centre (TIC) has signed on July 18th, 2016, a Memorandum of Understanding (MoU) with www.TanzaniaInvest.com to cooperate in promoting Foreign Direct Investments…
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