TIC to focus agriculture as the main priority for national investment

THE Government has reiterated its need to continue putting more efforts in agricultural investment potentials as the sector is the backbone of the country’s economy, an official from Tanzania Investment Centre (TIC) has said. The Acting Executive Director of the TIC, Raymond Mbilinyi said in an exclusive interview last week in Dar es Salaam that, his office has laid down strategies with more efforts to be concentrated in Southern agricultural growth corridor which enjoins all regions within Southern Highlands of Tanzania. He said the government has opened an avenue to both local and foreign investors to come and invest in sugar industry and other food stuffs so as to minimize the current high inflation rate that has hit the nation as it was declared by President Jakaya Kikwete in 2011. The move is to implement the goals set by the government to ensure an effective implementation of the five years economic development plans under the national investment program which ends in the year 2016. The TIC boss noted that, under the sector’s improvement, he mentioned horticulture and livestock development, bearing in mind that agricultural sector is the biggest sector which has employed a greater number of Tanzanians and because of this fact it needs a boost. He said adding that, the government is also looking for ways on how to promote it. Other areas of investments he mentioned are in rail, port and airports infrastructure which he said this requires mostly expansion and rehabilitation to the utmost standards required. He said the rehabilitation of berth 1 to 7 and 13 and 14 at the Dar es Salaam port. These would help increase transit trade between landlocked countries neighboring Tanzania. For rail infrastructure, the government is planning to build a new railway link between Tanzania and Rwanda, which will start from Isaka in Shinyanga dry port to Kigali city in the Republic of Rwanda. Power areas, an emphasis is also required in order to increase power distribution and generation. “Other important things we need are to improve Julius Nyerere International Airport (JNIA) services in Dar es Salaam by rehabilitating terminal two and build terminal 3”, he said adding that, this will increase the capacity of cargo handling. So in these logistics infrastructure would proceed so far. Development on human capacity such as training in specialization to human training, this is another area that would be concentrated within the five development plan. The TIC boss said this when he had officially launched a Dar es Salaam based full service locally established legal investment firm known as Forbix Attorneys which has a vast expertise in legal activities in the practice areas of banking, corporate, business and government affairs.. The firm was established in February this year and works with a view to carry out legal matters within the country and outside. The firm serves its clients in diverse sectors including private business, government and non-profit institutions in countries throughout East and Central Africa region. According to the Managing partner of the Forbix Attorneys Nasra Hassan, the firm has exceptional experience in banking services from domestic and international lending to debt, equity and derivate securities. The company provides superior services to clients in the public and private sectors under Private Public Partnership (PPP) competitive spirit and deals with other finance contributors in various industries. The firm’s services includes the following activities, Bankruptcy and financial restructuring, capital markets, insolvency and receivership, mortgage, debentures, charge documents and guarantees, securities, tax, trade and commodity finance. Forbix attorneys business lawyers are known for facilitating and adding value to a broad scope of business transactions, whether in counseling new business in formation and early growth strategies or assisting established companies in restructuring top increase profitability.