TIC launches One-Stop-Centre in Arusha to stimulate investment

Arusha. Tanzania Investment Center (TIC) will launch a one-stop investment center here in July as part of efforts to eliminate bureaucracy in facilitating investments in the country.

The Minister of Foreign Affairs in the Office of the President (Planning and Investment), Prof. Kitila Mkumbo, said at a tourism investment conference here yesterday that the move would also boost Tanzania’s economy.

The investment conference had the theme ‘Exploiting Investment Opportunities After Tanzania: The Royal Tour Programme’.

Professor Mkumbo was responding to the request of the Arusha Regional Commissioner, Mr Paul Makonda, for the opportunity to set up a one-stop center for investments in Arusha to facilitate services to investors.

Responding to the request, Prof. Mkumbo said the matter was within his capabilities and directed the permanent secretary of the ministry to investigate the matter further.

“This matter regarding TIC is within my capacity. Therefore, once we conclude the ongoing parliamentary budget session, we will come to Arusha to set up the centre,” he said.

He said the tourism industry is a cross-sectoral sector and contributes significantly to the national economy.

He said tourists and investors consider several factors, including peace, stability and security, infrastructure, effective strategies for promoting tourist attractions, the presence of accommodation facilities, attractive investment policies and regulations, as well as good international relations, before coming to a country come. .

In his remarks at the conference, Mr Makonda also said that they have put in place strategies to ensure that the city of Arusha is well lit and cameras are installed everywhere. Work is underway to install more than 200 street lights. He called for improvements in infrastructure, especially roads, to attract more tourists.

According to the Minister of Natural Resources and Tourism, Ms. Angela Kairuki, there were many investment opportunities in Arusha, especially in the tourism value chain.

She said the government will continue to create an enabling environment to increase the number of domestic and international tourists, surpassing the target of five million tourists next year.

“We need to improve services in the tourism value chain,” she said.

Speaking on opportunities for investment, the Registrar of the Ministry of Finance, Nehemiah Mchechu, said it is important for members of the public and private sectors to join forces and invest in the tourism sector.

He said that while Tanzania’s tourism sector has great potential and is performing well, it is not yet fully exploited.

TIC Executive Director, Mr. Gilead Teri, said the purpose of the meeting was to discuss with industry stakeholders the challenges and opportunities, including educating tourism stakeholders on the benefits available through TIC in tourism attractions and helping Tanzanians to invest.

He said Tanzanians now have the opportunity to invest as many taxes have been exempted or reduced, making it feasible for Tanzanians to invest in this crucial sector.

He stated that the government has halved the investment threshold required for Tanzanians to be recognized by TIC, facilitating broader participation and ownership in the sector.