Data released by the Tanzania Investment Center (TIC) show that in February 2023, a total of 41 projects were registered across the country, representing an increase of 128% compared to the 18 projects registered in February 2022.
Projects registered in February 2023 had a total value of US$339.2 million and were expected to create 7,370 jobs. This reflects a growth of 347% in relation to the 75.9 million dollars in capital injected into the country's economy in February 2022.
Likewise, the 7,370 jobs with the new developments represent an increase of 493% compared to those generated by the developments registered in February 2022.
TIC Executive Director Gilead Teri said that “in addition to devoting considerable attention to supporting investors, President Samia Suluhu Hassan's administration has streamlined licensing and permitting procedures through the implementation of the Regulatory Reforms Project”.
Transport emerged as the leading sector attracting investment in February 2023, with projects worth US$156.17 million.
In February 2023 it represented 46% of the total value of registered projects.
Agriculture came in second with US$90.20 million (27%) while manufacturing received US$53.68 million (15.8%).
Tourism projects were valued at US$29.02 million, while commercial buildings generated US$10.15 million, representing 9% and 3% of the total, respectively.
