TIC calls for partnerships in investment projects

TANZANIA: THE Tanzania Investment Centre (TIC) has announced a call for investment projects seeking partnerships as part of its ongoing efforts to attract more investments vital in fostering economic growth and development in the country.

In a recent public note, TIC invited the general public to submit investment projects seeking partnerships. Through this initiative, TIC aims to promote these ventures to incoming investors and provide matchmaking services to existing Tanzanian investments seeking partnerships.

“Prospective project submissions are required to include detailed information such as the company name, project name, location, sector, project area size, project description, infrastructure details (including land size and support facilities), project cost estimates, current implementation status, project value, and contact information of the project owner,” the note reads in part.

It further stated that the submission of investment projects seeking partnerships is a critical step towards fostering collaboration and driving economic growth in Tanzania, by facilitating partnerships and providing a platform for project promotion.

“We aim to attract investment, spur development, and create employment opportunities across various sectors,” it said.

TIC further stated that the designated format for project submissions can be accessed on its website whereby submissions will be collated in a comprehensive project inventory, which will be shared with investors worldwide during TIC’s outgoing investment missions.

With a focus on creating a conducive environment for investment and economic prosperity, TIC remains committed to facilitating partnerships, driving investment initiatives, and contributing to Tanzania’s sustainable development goals, according to the public note.

Established under the Tanzania Investment Act No. 10 of 2022 Cap 38, TIC serves as the primary agency mandated by the government to coordinate, encourage, promote, and facilitate investment in Tanzania.

With a focus on advising the government on investment policy and related matters, TIC plays a pivotal role in driving investment opportunities within the country.

One of TIC’s key functions is to facilitate partnerships between Tanzanian investors and potential collaborators, aiming to enhance project implementation efficiency through the acquisition of new technology, capital injection, operational expertise, and employment creation.

The brief of an agriculture-related project seeking joint venture partnerships published August 2023 by TIC has information for 91 projects with an estimated value of over 235 billion US Dollars equivalent to 599.250tri/-.

There are three categories of projects from the brief, those led by government institutions; private sector firms; and public-private partnership projects (PPPs). The profiled projects are investments along the agrifood systems from input supply, production, post-harvest handling, processing, trade/ marketing, transportation, and logistics.

These projects invite partners from all areas, both public and private to work together and create solutions for shared success.

According to the brief, the projects are well aligned with the Second Agriculture Sector Development Programme II (ASDP II), the country’s National Agriculture Investment Plan, and key government flagship programmes such as the Building a Better Tomorrow (BBT-YIA), BBT-Livestock and the Tanzania Agro-Industrialisation Development Flagship (TAIDF) among others.

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