The National Development Corporation (NDC) is a leading industrial development and promotion organization established in 1962 as Tanganyika Development Corporations (TDC) by an Act of Parliament to fill the gap of financing critical development projects and take over the colonial development corporation (CDC) formed in 1950. In 1965, NDC was re established by the government to catalyze economic development in all sectors of the economy. After the Arusha Declaration, another role was added to NDC that of a holding corporation under the Public Corporation Act 1969 that came to an end in 1992 under the Public Corporation Act, 1992 as amended. The NDC was given a broad mandate as a development and promotion institution to stimulate industrialization in partnership with private sector under the cabin memorandum No. 6/1996 of 1996.