On 23rd March 2015, the Tanzania Investment Centre (TIC) and the
Investment Climate Facility for Africa (ICF) signed an agreement worth
US$ 950,000on a project that aims to increase investments in the country
by expanding, consolidating and promoting the Tanzania Investment
Window
Speaking at the signing ceremony, Neville Isdell, ICF Co-Chair said:
"ICF is happy to be partnering with the Tanzania Investment Centre in promoting its investor facilitation services. Businesses of all levels, but especially smaller businesses, need to have a conducive environment in which to operate.
When this is in place, businesses are able to grow, expand and
flourish quickly and in greater numbers. They will then be able to
contribute significantly to job creation and consequently to a more
inclusive distribution of wealth across the country."
Speaking at the signing ceremony, Hon. Eng. Christopher Chiza (MP), Minister of State for Investment and Empowerment said:
"Once completed, the Tanzania Investment Window will represent a
new and innovative approach to the delivery of services for investors
and will undoubtedly improve our country's business environment and
competitiveness. For the past few years as you are aware, Tanzania's
position in doing business reports and other international rankings has
deteriorated sending a poor signal to investors on the country'
willingness to reform and develop the private sector. Completion of this
online registration program will simplify business procedures
drastically by removing important barriers to investment,
entrepreneurship and job creation"
This is the seventh project that ICF is supporting in Tanzania.
Previous projects included: a feasibility study for a potential National
Land Bank; modernization of the High Court and its three sub-divisions
of Land, Commercial and Labour courts; assisting the Police Force to
help ease the movement of goods on the highway from the Port of Dar es
Salaam to Rusumo, on the Tanzania-Rwanda border; supporting TRA to do
preparation work for Customs modernization. Ongoing projects include:
implementation of the Tanzania Customs Integrated System to improve
clearance of import and export goods; and building the capacity of SMEs
to enable them to enter the formal sector.