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TIC says Unido support promoting investments

17th May 2012
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Tanzania Investment Centre acting Executive Director Raymond Mbilinyi

The Tanzania Investment Centre (TIC) has lauded the support it gets from the United Nations Industrial Development organisation (Unido) in promoting sustainable investment in the country.

The kudos was given by the centre’s Acting Executive Director, Raymond Mbilinyi at the launch of the TIC-Unido Africa Investor Report 2011 and Investment Monitoring Platform (IMP) that took place in Dar es Salaam on Tuesday.

“The collaboration between Unido and TIC has come a long way since 2000…we hope we will continue so as to promote sustainable investment in Tanzania,” he said.

He said through Unido support, the Centre has managed to survey registered projects within TIC and confirmed that approximately 80 per cent of the registered projects operate even though “there is a need to conduct another survey to have an update status of the projects.”

He added that together with Unido, TIC managed to conduct Business Development Seminars around the country and assisted to develop 400 projects whereby 80 of them were selected and developed to become bankable ones and helped to find markets and joint ventures in and outside the country.

“UNIDO has continued to support TIC on capacity building through Investment Technology Promotion Office (ITPO),” Mbilinyi said.

For his part, Unido Representative in Tanzania Emmanuel Kalenzi expressed his gratitude to the centre for taking the lead, on behalf of the government in the investment survey exercise in collaboration with other institutions.

He also thanked the companies that participated in the survey for being cooperative and getting to quickly understand the importance of the survey and being part of the process throughout.

Minister of State, Prime Minister’s Office, Investment and Empowerment, Dr Mary Nagu said that although Tanzania has attracted a growing number of foreign and local investors, it is not clear as to how many have actually taken off-the ground and what value they have brought into the economy.

“The survey and the tools that have been developed will be able to provide answers to some of the critical questions related to growth and impact of investment and the comparative and competitive advantage for Tanzania based on the actual data collected,” she observed.

By March, this year, more than 7,000 investment projects have been registered at TIC with the value of more than USD50bn and are expected to create close to  a million jobs.

The Investor Monitoring Platform (IMP) together with the African Investor Survey Report 2011 are a culmination of an intensive work initiated in 2009 on pilot basis in 22 African countries, Tanzania being one of them, with Unido technical support.

The IMP seeks to facilitate the participating governments through the different investment promotion agencies; to implement evidence based investment strategies and policies. 
It also seeks to facilitate investment promotion institutions to be proactive and responsive to the challenges and demands of investors.

Also, the platform expects to help the participating firms to promote their products, reach to global market networks and benchmark themselves against global and regional players.
A total of 450 Tanzanian companies took place in the survey.

SOURCE: THE GUARDIAN
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