The Tanzania Investment Center (TIC) recently informed the public about the achievements during the year 2021-2022 in terms of investment in the country with an increase of 14.6% in the number of projects.
In its press release, Tanzania’s main investment agency explains that in the period from June 2021 to July 2022, a total of 274 projects have been registered, compared to 234 projects registered during the same period in 2020-2021.
The projects registered during 2021-2022 are expected to generate 43,925 jobs in comparison and 36,470 jobs reported in 2020-2021.
The projects are in an array of sectors including industry, transport, agriculture, construction, infrastructure, finance, human resources, tourism and services.
TIC explains the success in the registration of investment projects with the promotion activities, the strengthening of coordination, and provision of services to investors.
These include the provision of services via the One Stop Facilitation Center at TIC, and the development of the Tanzania Electronic Investment Window (TeIW).
Currently, 12 government institutions are currently providing services at the TIC, namely the Ministry of Labour, the Ministry of Lands, the Immigration Office, the National Identification Authority (NIDA), the National Environment Management Council (NEMC), the Tanzania Revenue Authority (TRA), the Business Registration and Licensing Agency (BRELA), the Tanzania Bureau of Standards (TBS), the Tanzania Medicines and Medical Devices Authority (TMDA), the Occupational Safety and Health Authority (OSHA), the Tanzania Electric Supply Company (TANESCO) and TIC itself.
Meanwhile, the Electronic Investment Window is expected to be a solution in simplifying the receipt of investors’ applications, the delivery of permits, licenses and registration services to investors quickly.
This system will be a repository of all information important for investment for all stakeholders who need to invest in this country and will be implemented in three Phases where initially it will involve seven Institutions namely TRA, BRELA, the Ministry of Labour, the Immigration Office, NIDA, the Ministry of Lands, and TIC.
Foreign and Local Investment Promotion
The TIC has continued to encourage domestic and foreign investment in cooperation with the embassies and TIC offices throughout the country.
In the period from June 2021 to July 2022, foreign investment promotion has been held through investment conferences and exhibitions abroad which has brought positive results in terms of investors coming to the country.
Investment conferences have also been held through the Internet in collaboration with consular offices, business institutions, and the private sector in China, Japan, Nigeria, India, Qatar, Germany, Canada, Pakistan, Italy, Algeria, Sweden, and Vietnam.
Improvement in the Investment Framework
The TIC stresses that the Government has continued to improve the investment environment and the enabling infrastructure such as roads, railways, ports, airports, and power production and distribution.
The government has also taken various measures to ensure that it simplifies the delivery of services by eliminating bureaucracy and increasing the use of digital technology.
And through the TIC has simplified the system of issuance of the Investment Certificate. At first, the investor was going through a 44-step process while now there are just 13 steps.
Strategic Investment Projects
Six joint investment projects with large strategic investors are expected to take place for a total value of USD 1.10 billion and that will generate about 28,710 direct jobs and save foreign exchange in excess of USD 1 billion that would be used to import those products from abroad.
The projects include:
• Itracom Limited for fertilizer production.
• Bagamoyo Sugar Limited, Kagera Sugar Limited, and Mtibwa Sugar Estates for sugarcane cultivation and sugar production.
• Knauf Gypsum Limited for the production of gypsum powder and gypsum boards.
• Taifa Gas for the processing of gas.
Briefing journalists, TIC acting Executive Director John Mnali also named other strategic projects out of those that were registered in 2021-22, which have special relevance in Tanzania’s economic development.
According to Mnali, these five projects are worth USD 368 million. They include a USD 202 million sugarcane production project to be implemented at Kasulu; a USD 3 million avocado processing project to be implemented in the Njombe Region, the establishment of a USD 150 million industrial park in Kwala in the Coast Region (currently in the implementation phase), and a USD 12 million industrial park to be implemented at Kamaka.
TIC Objectives for 2022/2023
In the Year 2022/2023, the Tanzania Investment Center will continue collaborating with Tanzania embassies to attract foreign investors, and has planned to implement the following initiatives:
• Continue to improve registration systems to increase the number of investment projects registered and the Center;
• Continue to improve and strengthen the services provided at the One Stop Facilitation Center;
• Continue to monitor and evaluate registered investment projects (Project Monitoring & Evaluation);
• Continue to look for land for investment;
• Continue to encourage investment in Tanzania and abroad through conferences and seminars;
• Continue to provide education to citizens on various investment issues in the country through media and the internet;
• Continue to resolve investment challenges;
• Conduct studies to identify investment opportunities in the country for medium and small entrepreneurs, and improve the investment environment;
• Continue to collaborate with the Tanzanian Embassies in promoting Tanzania to attract investment; and
• Improve the TIC’s staff capacity to carry out their duties effectively.