TIC eyes investors at AGRF summit 

THE Tanzania Investment Centre (TIC) is looking forward to using this year’s African Green Revolution Forum (AGRF) to lure big investors in edible oil production, horticulture, dairy industry and Blue Economy.

With Tanzania offering huge opportunities in the agriculture value chain, the TIC is assuring prospective investors of an enabling environment and incentives.

According to TIC Acting Executive Director John Mnali, investors who would attend the AGRF Summit 2022, which kicks off today in Kigali, Rwanda, would have opportunity to know a wide range of investment opportunities in agriculture, which is expected to drive the nation to semi-industrialised by 2025.

“The government, through the TIC, offers investors a range of investment incentives. Such incentives include both fiscal and non-fiscal incentives including the 100 per cent capital allowance in agriculture, zero import duty on capital goods which may be used in agriculture mechanisation to unlock opportunities in the sector,” he said.

Mr Mnali noted that there were several investment opportunities in the value chains of sunflower (edible oil), dairy industry, horticulture, and fisheries.

He said Tanzania is inviting investments in large-scale farming of sunflower to address shortage of edible oil by increasing supply of raw materials to processing facilities and refineries.

The TIC official noted further that Tanzania seeks the establishment of dairy farms to increase milk production, establish milk collection centres, construct milk processing plants, including UHT technologies, and manufacture dairy equipment and packaging materials.

The country, he said, also seeks investors in the horticultural sector, including sorting, packaging, processing fruits and vegetables.

“Tanzania also seeks investment in horticultural products storage facilities, such as cold rooms and refrigerated vehicles,” he said, adding that the country also wants investors to add value in the fisheries sector by sorting, packaging and processing fish; as well as invest in producing and supplying farming inputs such as fish feeds and fingerlings.

To reach semi-industrialised status by 2025, Tanzania is currently implementing the Tanzania Agro-Industries Development Flagship (TAIDF) programme, among other flagships.

Budget estimates for TAIDF (2021-2026) is US Dollars 2989.1 million, of which the government and development partners will contribute a total of US Dollars 320 million.

Investments from the private sector, including farmers, primary processors and agro-industrialists, is pegged at 2,669.1million US dollars in six years.

According to the Acting Permanent Secretary, Ministry of Investment, Industry and Trade, Mr Ally Gugu, Tanzania promotes competitive, inclusive and sustainable investment in the agriculture sector.

When addressing the Tanzania Agribusiness Investment Summit last week, in Dar es Salaam, Mr Gugu called for concerted efforts to engage prospective local and international investors and stakeholders in agriculture or agribusiness.

Tanzania is expected to feature prominently at the AGRF SUMMIT 2022; with the President Samia Suluhu Hassan expected to be a keynote speaker alongside Hailemariam Dessalegn, Chair, AGRF Partners Group and Former Prime Minister of Ethiopia, in a dialogue with African farmers.

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