TIC wins investment promotion agency award in Africa

Abhu Dhabi, UNITED ARAB EMIRATES: THE Tanzania Investment Centre (TIC) has been bestowed the prestigious award as the Most Progressive Investment Promotion Agency in Africa.

The award was received on Wednesday by the Permanent Secretary for the President Office’s Planning and Investment, Dr Tausi Kida at the on-going Annual Investment Meeting (AIM) 2024 in Abhu Dhabi, United Arab Emirates.

Speaking shortly after receiving the award, Dr Kida said the prestigious honour stands as the testament to the six phase government under President Dr Samia Suluhu Hassan which introduced reforms including the New Investment Act of 2022 for enhancing favourable investment atmosphere in Tanzania.

The iconic award was organized by the AIM Congress which also is hosting the investment meeting from which the TIC ascended as the first winner on the category of the Best Investment Promotion Agency in Africa Region 2024.

Dr Kida said under the six phase government, the TIC has continued to put in place innovative strategies, commitment and robust investment promotion encompassing introduction of investors’ friendly approaches for attaining ease of doing business.

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The ease of doing business entails transparency and leveraging technology to streamline services and hence attracting more investors and winning international accolades.

“The award highlights TIC’s efforts in not only attracting new investments but also in supporting existing investors to expand their operations. This approach has been crucial in ensuring that Tanzania remains a competitive destination for global capital,” Dr Kida said.

In another development, the TIC Executive Director, Mr Gilead Teri noted that the key investment initiative has been involving sector-specific incentives, improved stakeholder engagements and strategic promotional activities which collectively elevated Tanzania’s investment profile on the global stage.

“This recognition by the Annual Investment Meeting underscores Tanzania’s growing reputation as a leading investment hub in East Africa,” Mr Teri said.

He explained that the TIC’s tireless efforts are aligning with the country’s broader economic goals of achieving middle-income status and ensuring sustainable economic growth.

“Moving forward, TIC aims to continue its progressive policies and initiatives, focusing on sectors such as manufacturing, tourism, and agriculture, which are pivotal for the nation’s economic development and job creation” Mr Teri said.

He said the government has been focusing on smoothing the business environment by reducing bureaucratic hurdles and improving infrastructure, aligning with President Dr Samia’s broad vision of inclusive economic growth.

Mr Teri underscored the fact that President Dr Samia has proven effective on positioning Tanzania as a competitive investment destination and fostering sustainable development across key sectors including tourism, manufacturing and agriculture.

AIM Congress is an independent international organization fully committed to empower the world’s economy by boosting effective promotion ptrategies and facilitating opportunities for economic productivity and expansion.

Since its inception, the AIM Congress has established itself as a leading investment platform in the Middle East, which aspires to ignite positive transformation by creating investment opportunities, upholding solidarity and developing economic relations among nations, as well as addressing the global ordeals that will make a profound impact on economic growth.

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