The Tanzania Investment Centre (TIC) announced yesterday that it has approved 85 projects between January and March this year, creating 12,191 job opportunities for Tanzanians and improving the image of Tanzania as a country to invest in.

The TIC Executive Director, Dr Maduhu Kazi, told journalists at the TIC headquarters here that the centre has registered impressive success in mobilising investment finances during the last three months. He was presenting the centre’s operations report on the third quarter (January-March 2022) of the fiscal year that started in July 2021.

“In January-March 2021 we approved 51 projects, which we are told have created 4,772 jobs.  During the same period this year we have approved 85 projects.  This is a 66.7 percent increase compared to the work we done in similar period last year. This year’s projects are projected to yield 12,191 job opportunities representing an increase of 155.47 percent. The 85 projects have a total value of 787.40 US dollars, while last year’s 51 projects had a total value of 450.56 dollars. This year’s project value of 787.40 US million dollars, represents a 74.76 percent rise in our performance,” he explained.

Dr Kazi said also talked about four projects he described as important projects in strengthening the national economy and creating jobs .  The first project will be a from- oil-to-gas project that will be executed by the Taqa Arabia Tanzania Limited and is expected to create 160 jobs..  It will produce gas for use by private, passenger, and heavy duty trucks that are currently using petrol and diesel.  “The company will build 12 conversion centres in Dar es Salaam, to enable vehicles to switch from oil to gas.  Two big centres will be completed between April and June, this year, and the project will have a 700,000-kg annual gas production capacity,” he explained.

Alotaib and Blak Bib Company Limited and Prime Cement are implementing two cement projects valued at  113 US dollars. The projects are expected to produce 1,079,500 tonnes a year and are projected to produce 1,097 direct jobs.

A third 11-million US dollar joint venture project between Tanzania and Canada is will set up an assembly plant in Kigamboni for HOWO vehicles.  It is expected to yield 320 direct jobs and will assemble 3000 units a year.

The fourth will, edible oil project, valued at 42.68 million US dollars will be executed by Organo Africa and its is expected to produce 700 direct jobs.  It will have an annual production capacity of 182,000 tonnes.

The Executive Director said the TIC has implemented a special programme for unearthing investment opportunities for Tanzanians along the Standard Gauge Railway, explaining that feasibility studies of 8 projects have been completed with the support of United Nations Development Programme (UNDP), namely projects in animal feed production, milk processing, preparation of base, land use plans and plots surveys, stone quarry, meat processing, livestock fattening, parking facilities, pasture production.

Dr Kazi also said the TIC took part in the Qata, Doha trade symposium. As a result, he said, 25 investor visited Tanzania between March 23 and 29.  TIC held tailor-made meeting with 24 companies between January and March this year and attended to 155 enquiries.  The centre also met members of the Tanzanian diaspora in Egypt and in Scandinavian countries.

The TIC, he explained, held investment and trade symposia in Egypt (2) Kenya, Burundi, France, Belgium, Qatar, Turkey, South Africa and Algeria.

He also said TIC has been improved facilities to serve as a one-stop facilitation centre, explaining that investors are meeting officials from the  immigration, labour, TRA, Land, Brela, Nida, NEMC, TBS, TMDA, and OSHA  under one roof.