TIC beats target by 30%

Tanzania Investment Centre (TIC) saw remarkable achievements in 2011-- after it managed to register a total of 828 projects surpassing the set target of 600-- following its endless efforts to woo investors into the country.

The investment agency whose main objectives include to coordinate, promote and facilitate investment in the country has played a key role to attract both internal and foreign investors; and help growth of small and medium enterprises for the past two years.

Speaking at the TIC party to usher the 2012 New Year held in Dar es Salaam at the weekend, the acting TIC executive director, Mr Raymond Mbilinyi, said in the past twelve months, the government’s investment arm has been able to implement the five year corporate strategic plan (2008/9-2013/14).

“Last year’s successes have been made possible by a close and good working relationships between the staff and the board of directors,” said Mbilinyi as he bade farewell to the former TIC executive director, Mr Emmanuel Ole Naiko.

“We have been able to attract investment in vital sectors such as agriculture, minerals, tourism and energy,” he said.

He noted that domestic investments have increased to 56 per cent in 2011 compared to 47.5 per cent in 2010, as efforts to encourage more SMEs in the country are being made to connect them with the transnational companies operating in the country.

He said, currently there is a total of 120 companies which have been lined up for the purpose.

Speaking on the prospects of 2012, Mbilinyi noted that TIC plans to further implement their five year strategic corporate plan including building staff capacity and improving working conditions and staff welfare.

In his farewell to Mr Naiko, he said; “Your leadership was an exemplary one during your tenure at TIC,” adding that both TIC and the country benefited a lot.
Source: The Citizen,www.thecitizen.co.tz, reported by its reporter 
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