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TIC surpasses target by over 40pc

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Director of Investment Promotion with Tanzania Investment Centre (TIC), Mr Raymond Mbilinyi

Tanzania Investment Centre (TIC) succeeded to attract new investors in the country in 2011, contributing positively to national economic development efforts.

TIC Acting Executive Director Raymond Mbilinyi said in Dar es Salaam over the weekend that during the past twelve months, the government’s investment promotion arm registered 828 new projects, surpassing the target of 600 projects by 38 per cent.

The achievement was 60 per cent above the 510 projects registered in 2010.

“Last year’s successes are attributable to a close and cordial working relationship between the staff and the board of directors,” he said during the agency’s party to usher in the new 2012 year and bid farewell to former TIC Executive Director Emmanuel Ole Naiko.

Mr Mbilinyi said the agency managed to attract investments in vital sectors like agriculture, minerals, tourism and energy, noting that domestic investments rose to 56 per cent in 2011 from the 47.5 per cent in 2010.

He said efforts were underway to ensure that the country’s small and medium enterprises (SMEs) are connected to multinationals operating in the country and that a total of 120 companies have been lined up for the purpose. TIC plans to further implement its five-year strategic corporate plan that involves building staff capacity as well as improving working conditions and staff welfare.

The CEO showered praise to his predecessor, Mr Ole Naiko for exemplary leadership during his tenure at TIC. “Both TIC and the country in general benefited from your exemplary leadership.” A representative of TIC staff, Mr Castro Luhusa, said Mr Ole Naiko represented the institution well inside and outside the nation, saying that all staff members were striving to emulate his performance.

Source Tanzania Daily News

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