Africa-Press – Tanzania. TANZANIA Investment Center (TIC) and Zanzibar Investment Promotion Authority (ZIPA) have signed a Memorandum of Understanding (MoU) which will allow them to work together in twelve areas of investment promotions.
The MoU was signed in Dar es Salaam on Thursday between TIC Director Dr Maduhu Kazi and ZIPA Director, Shariff Ali Shariff.
Speaking after signing the agreement, TIC boss, Dr Kazi said among others the two have agreed to promote investment attractions for both sides during various exhibitions.
He said they will also exchange information regarding investment and participate in various exhibitions to promote the sector.
Dr Kazi further said that they will also collaborate in research activities which are crucial in investment promotions and also share experience in issues related to investment.
“There are some areas where our fellow ZIPA are more experienced than us and TIC has also experience in other areas so we will share the experience so as to gain from one another,” he said.
He noted that they started collaborating in various areas even before signing the MoU such as in the just the ended International Trade Fair at Julius Nyerere grounds famous as Saba Saba where they emerged number two in the exhibitions.
Dr Maduhu said according to the agreement, there is a room for improvement where both parties can add anything they wish apart from the twelve agreed areas.
He said there is a joint committee which coordinates the implementation of the MoU noting that it will have the mandate to remind each part its obligations.
“We have agreed to work to gather in various investment activities .TIC will speak on behalf of ZIPA in the event that they are not present and they will do the same where we are not present,” said Dr Maduhu.
On his side, ZIPA Director, Shariff said the collaboration between TIC and ZIPA intends to strengthen investment sector in both Mainland and Zanzibar.
He said they plan to conduct annual investment day which will be held once a year in either Zanzibar or Mainland.
Shariff said among their obligations in their MoU is to advice the two governments on laws and regulations that impede investment.
