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Dar shines in investment pull

  • Registers 900 projects worth 30tri/- in three years Tanzanians promised hundred thousands of jobs

TANZANIA Investment Centre (TIC) has registered 905 projects worth 13.2 billion US dollars (about 30tri/-) between 2015 and 2018.

The projects are expected to create 115,500 direct jobs and hundred thousands of indirect employment opportunities for Tanzanians.

TIC Executive Director Godfrey Mwambe said in Dar es Salaam yesterday that 319 projects are foreign owned while Tanzanians have registered 309.

“But there are 277 joint venture projects (JVPs) that are jointly operated between Tanzanians and foreigners,” said the TIC boss, detailing the TIC performance during the first three years of President John Magufuli’s administration.

He said out of the total registered projects, 478 are industrial, aiming at adding value of raw materials available in the country.

Some of registered big industries include the 53 million dollar Goodwill Ceramics Limited, which manufactures floor tiles in Mkuranga District, Coast region.

Other factories with their value in brackets are Keda (Twyford) Tanzania Ceramics Company Limited (56 million dollars), Sayona Fruits Limited (55 million dollars) and KEDS (T) Company Limited (11.8 million dollars).

In the list is also Kiluwa Steel Group Company Limited whose first phase project has cost 130 million US dollars invested.

“All the factories are in Coast region and in total they have created about 13,500 direct jobs and over 37,000 indirect employment opportunities,” said Mr Mwambe.

The achievements, according to the TIC boss, are a result of joint efforts by the government and TIC to create conducive investment environment that attracts serious foreign investors.

“All these are done according to the Tanzania Investment Act of 1997 that established TIC. The law has also set criteria for the project to be registered by the centre,” he noted.

He said, as of now, the law requires TIC to register all projects established by foreigners whose minimum value is 500,000 US dollar (over 1bn/-), with 100,000 US dollar (about 230m/-) set as the minimum value of projects by Tanzanians.

Moreover, he said projects registered under TIC enjoy fiscal and non-fiscal incentives to give a soft landing for investors.

“We will do everything possible to market our country and have more investors coming here, Tanzania is highly endowed with resources that have to be utilised well,” charged the TIC boss.

TIC has opened four new zonal offices, bringing to seven the total zonal offices across the country.

They are the Eastern Zone covering Dar es Salaam and Coast regions, Western Zone for Tabora, Kigoma and Katavi regions, Central Zone for Dodoma, Singida and Morogoro; and the Southern Highlands Zone (Iringa, Mbeya, Njombe, Songwe and Rukwa).

Others are Southern Zone that covers Lindi, Mtwara and Songea, Northern Zone (Kilimanjaro, Arusha, Tanga and Manyara) as well as the Lake Zone that accommodates Mwanza, Kagera, Simiyu, Geita, Mara and Shinyanga.

Mr Mwambe said the centre facilitates investors in execution of their projects in the country through TIC One Stop Facilitation Centre, which assists investors to get various permits, licenses and approvals under one roof.

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Author: DEOGRATIUS KAMAGI

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