The realignment is informed by the fact that it is through industrialisation that the country can create much-needed employment, expand markets for its agricultural products and generate income to investors and boost government revenues.
TIC Executive Director Geoffrey Mwambe told The Guardian in an interview at the weekend that investors are welcome in priority sectors such as agriculture, manufacturing, livestock and fisheries, tourism, precious stones and metals, along with information and communication technology (ICT).
He said the priority sectors are based on the Five-Year Development Plan II covering the period 2016/17 to 2020/21.
President John Magufuli has placed more emphasis on industrialization as the main agenda for the government, aiming at transforming Tanzania into a semi-industrialized nation by 2025.
The president also wants the country to accelerate economic growth while making sure that the quality of that growth benefits the majority of the people by significant poverty reduction, job creation and strengthening implementation effectiveness.
The TIC chief executive said that in the agricultural sector, investors are welcome to venture into cultivation of prioritized crops including maize, sugarcane, rice, sunflower, pulses, floriculture, cotton, sisal, grapes and simsim.
Mwambe (pictured) said investors can also take part in the development of out-growers to complement the sources of raw materials for industries as appropriate.
In the livestock sub-sector, opportunities are in meat, dairy and leather processing while in fisheries investors can establish fishing ports and engage in deep sea fishing in the country’s exclusive economic zone.
“There are plenty of opportunities in the fisheries sector such as establishment of fish processing plants and modern fishing boat building yards, establishment of dry docks and eco-tourism facilities,” he pointed out.
Investors may also choose to engage in the production of formulated fish feeds and live fish foods as well as establishing the commercial fish cage culture in sea shore and fresh water facilities.
Opportunities in the manufacturing sub-sector include establishment of special economic zones (SEZs) and export processing zones (EPZs), industrial parks and logistics centers, he said.
In the automotive industry the focus is on establishment of assembly plants and spare parts manufacturing facilities while in pharmaceuticals investors will be tasked with rehabilitating and providing support to strategic pharmaceutical industries.
Mwambe noted that local and foreign investors may venture into agro-processing industries to add value to crops as well as livestock, forestry and fisheries products.
Other investment opportunities in the manufacturing sub-sector are sugarcane farming and establishment of processing industries, edible oil processing, gas and chemical industries particularly the construction of a liquefied natural gas (LNG) plant expected to be located in Lindi region.
In the tourism sector opportunities are available in the construction of tourist accommodation facilities, leisure parks, conference tourism facilities and provision of air/ground transport.
In ICT investors can deal with provision of mobile phone services especially in rural areas as currently penetration is higher in urban areas.
There is also the need for provision and operation of value added network for data services (internet, voice mail, electronic mail services), plus repairing and maintenance of telecommunications facilities.
He said there are infrastructure projects which provide exciting public private partnership (PPP) opportunities for investors looking to capitalize in the country’s growing economy.
On precious stones and metals, opportunities are available in value addition and beneficiation of minerals such as processing of gemstones, establishment of a soda refinery plant and production of iron ore and steel in Engaruka in Arusha.
There is also need for facilities for processing of nickel in Kabanga and uranium extraction at Mkuju River in Namtumbo, Ruvuma region, he added.