The United Republic of Tanzania

TANZANIA INVESTMENT CENTRE



‘TIC, pension funds embark on campaign to identify industrial sports to promote industrial drive’ .


Tanzania Investment Centre (TIC) in collaboration with Pension Funds intends to set up industrial parks in the country in a bid to promote the government’s ambition dream of transforming the country in to an industrial economy. This was discussed during the meeting called by the Executive Director of Tanzania Investment Centre Mr. Geoffrey Mwambe with Pension Funds Chiefs /Representatives. In attendance during the meeting held on 24 Julai, 2018 at TIC offices were, National Social Security Fund (NSSF), PPF Pension Fund, Public Service Pension Fund (PSPF), Local Authorities Pension Fund (LAPF) as well as Workers Compensation Fund (WCF).

The inspiration was proposed by the Executive Director of TIC Mr. Geoffrey Mwambe after a detailed assessment which found that there are bottlenecks which impends investors to establish their project in Tanzania including absence of enough and complete industrial parks to support the implementation of the projects.  ‘Most investors come into the country and find that there are no facilities to enable investment which include land ‘industrial parks’ as well as infrastructure as it is in other countries said Mr. Mwambe’. The situation is not attractive and friendly to investors due to the fact that they spend all  of investment capital and time to secure land with its infrastructures; this delays implementation of the project and contribution to the national growth. Thus the objective of the meeting was to discuss on the best ways to ensure that investors come into the country and invest without shortfalls and contribute to the national economy.

At the meeting, PPF Research Manager Benedict Mahona proposed that TIC should intensify collaboration with Local Government Authorities (LGAS) which will allocate the specific areas for industrials parks based on the natural resources deposited. Furthermore, Mahona said that there is a need to conduct a pilot study in some few areas to the efficiency of the industrial parks before embarking on implementation of the ambitious plan. But an economist from PSPF Mr. Hamidu Ngororo commended the new plan and asked TIC to engage private sector which has a role to play in encouraging investments in the country. NSSF Acting Director Planning, Investment and Project Mr. Xavier Lukuvi underscored that there will be a need to put up sustainable infrastructure in all areas where the industrial parks will be established. WCF Director Masha Msomba proposed that a feasibility study should be conducted and provides proper advice on the best way to develop the areas which will be allocated for industrial park construction. He further advised that when implementing the programmed land ownership and prices should be taken in to consideration before investors venture into investments.

The meeting agreed that there should be a committee with all stakeholders so that it can supervise the implementation of the ambitious plan.









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