Factors Affecting Fdi Inflow in Tanzania
CHAPTER ONE
1 INTRODUCTION
1 HISTORICAL BACKGROUND OF TANZANIA INVESTMENT CENTRE (TIC)
Tanzania Investment Centre (TIC) is the primary agency of the Government of Tanzania to coordinate, encourage, promote and facilitate investment in Tanzania and to advise the Government on investment related matters.
TIC is a focal point for investors. It is the first point of call for the potential investors; it is a “one stop facilitative centre for all investors”, engaging in the business of marketing Tanzania as an investment destination. 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 in Investment related matters” All Government departments and agencies are required by law to cooperate fully with TIC in facilitating investors.
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 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 a re over and above US $ 300,000 and 100,000 for foreign and local investment 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.
TIC headquarters is in Dar es Salaam, but has established Zonal offices in Kilimanjaro, Mwanza and Mbeya regions in order to assist Investors who are based in nearby
1 INTRODUCTION
1 HISTORICAL BACKGROUND OF TANZANIA INVESTMENT CENTRE (TIC)
Tanzania Investment Centre (TIC) is the primary agency of the Government of Tanzania to coordinate, encourage, promote and facilitate investment in Tanzania and to advise the Government on investment related matters.
TIC is a focal point for investors. It is the first point of call for the potential investors; it is a “one stop facilitative centre for all investors”, engaging in the business of marketing Tanzania as an investment destination. 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 in Investment related matters” All Government departments and agencies are required by law to cooperate fully with TIC in facilitating investors.
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 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 a re over and above US $ 300,000 and 100,000 for foreign and local investment 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.
TIC headquarters is in Dar es Salaam, but has established Zonal offices in Kilimanjaro, Mwanza and Mbeya regions in order to assist Investors who are based in nearby
References: AND BIBLIOGRAPHY Immanuel D.Mzava & David Hillier (2004) “Does Country’s Tax Structure determine its Foreign Direct Investment Flow?” The African Journal of Finance & Management, Volume 14:1 Barbara Seedha, Lauren Maxwel & Joseph Horton (2000) “Foreign Direct Investment in Africa” The African Journal of Finance & Management, Volume 14:1 Bank of Tanzania (2001) Bank of Tanzania (2006) “Report on Foreign Private Investment in Tanzania” Tanzania Investment Report. Recep Kok & Bernur Acikgoz Ersoy (2009) “Analyses of FDI determinants in Developing Countries” International Journal of Social Economics Volume 36: ½ PP 105 – 123 www.emeraldinsight.com Bhinda, N and M.Martin (1994) Chege, M (1999). “Politics of Development: Institutions and National Governance”, Paper presented for Africa in the 21st Century Initiative (Washington D.C... World Bank) IMF (1999) Kasekende L. and I.Hussain (1997). “Private Capital Flows to Sub-Saharan Africa: What’s the Real Story? Paper presented at Seminar, A New Paradigm of Financing Development and Development Cooperation, March 1997, Stockholm. Kasekende L., D. Kitabire and M. Martin (1998). “Capital Inflows and Macroeconomic Policy in Sub-Saharan Africa”, in G.K.Hellier (1998). Capital Accounts Regimes and Developing Countries (London: Macmillan Press) Kasekende L UNCTAD (1999), “Foreign Direct Investment in Africa: Performance and Potential”, (New York and Geneva, 1999). TIC (2002 and beyond). “Tanzania Investors Guide: Investment Opportunities and Facilitation” (United Republic of Tanzania, March 2002) C.Makunike (Tuesday, September 30, 2008) D.Makangale (Thursday, January 22, 2009). “Investment Climate Attractive” (Tanzania: Daily News Paper) Macias J.B and Massa I Oyeyinka, B. (2004). “How can Africa Benefit from Globalization”? ATPS Special Paper Series No. 17 www.tic.co.tz visited on 3rd March 2010 Dar es Salaam, 10TH March, 2010.