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Browsing: Tanzania Investment Centre (TIC)
- Tanzania Investment Centre (TIC) targets to register 1,000 investment projects in 2024
- The government of Tanzania is also revising the immigration law to draw diaspora investors.
Tanzania Investment Centre (TIC)
From changing harsh taxing practices to revising the foreign direct investment environment – the Tanzania Investment Centre (TIC) is significantly making notable efforts to make the East African nation investor-friendly.
On Tuesday, July 16, TIC displayed its ambitious goal of attracting nearly $10 billion in capital investments in 2024.
The new target comes seven months later after the government of Tanzania introduced a new campaign to increase investment to around $14 billion attributed by locals.
Tanzania’s investment trajectory took an uplift witnessing 504 projects worth $5.2 billion in 2023 an increase from $3 billion previously.
According to TIC executive director, Gilead Teri, the ambition eyes building impressive growth in foreign and domestic investments for five consecutive years, factored by favourable …
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Tanzania-Korea relations
Tanzania-Korea relations are growing, with the latter securing a $2.5 billion soft loan from the Economic Development Cooperation Fund (EDCF).
The loan comes on the heels of Tanzania’s President Samia Suluhu Hassan’s state visit to the Republic of Korea.
The Tanzania-Korea loan was subject to criticism surrounding its terms. Still, the government of Tanzania has refuted claims that the loan has a security guarantee clause that may have forced the government to ‘mortgage’ some of the country’s resources.
Chief Government Spokesman Mr. Mobhare Matinyi was forced to elaborate on the loan terms following the ongoing social media buzz about what the spokesperson described as ‘misinformation.’
“The government has not mortgaged anything or any property because this loan does not have any conditions that …