Thursday, February 22, 2007

Invest in Tanzania

Tanzania Investment Centre (TIC) was established in 1997 by the Tanzania Investment Act No. 26 of 1997 to be "the primary agency of Government to coordinate, encourage, promote and facilitate investment in Tanzania and to advise the Government on investment related matters". All Government departments and agencies are required by law to cooperate fully with TIC in facilitating investors.

TIC is the focal point for investors. It is a first point of call for potential investors. It is an efficient and effective investment promotion agency, a "One Stop Facilitative Centre for all investors", engaging in the business of marketing Tanzania as an investment destination.

As a primary agency of the Government in all investment matters, TIC is charged with the following functions: -

* Assist in establishment of enterprises e.g. incorporation and registration of enterprises;
* Obtain necessary licenses, work permits, visas, approvals, facilities or services;
* Sort out any administrative barriers confronting both local and foreign investments;
* Promote both foreign and local investment activities;
* Secure investment sites and assist investors to establish EPZ projects;
* Grant Certificates of Incentives, investment guarantees and register technology agreements for all investments, which are over and above US$ 300,000 and US$ 100,000 for foreign and local investments respectively;
* Provide and disseminate up to date information on existing investment opportunities, benefits or incentives available to investors; and
* Assist all investors whether or not registered by TIC.

In order to strengthen and expedite facilitation services, 8 Senior Officers from Government or its Executive Agencies have been permanently stationed at TIC to serve investors under the general direction of the TIC Executive Director. Presently these officers include those from: -

* Lands Department
* Tanzania Revenue Authority (TRA)
* Immigration Department
* Labour Division
* Directorate of Trade
* Business Registration & Licensing Agency (BRELA)

For further information, please contact;

The Executive Director
Tanzania Investment Centre (TIC)
P.O. Box 938
Dar es Salaam
Tel: 255 22 2116328
Fax: 255 22 2118253

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