The Tanzania Investment Centre (TIC), has just released its Monthly Investment Bulletin-April 2023 in which it indicates that a total of 25 projects worth USD 374.03 million were approved and registered by TIC in April 2023.
These projects are expected to generate 4,558 new jobs.
Domestic Investments (DIs) accounted for 49.8% of total approved investments or USD 186.7 million, while Foreign Direct Investments (FDIs) accounted for 50.2% of total approved investments or USD 187.3 million.
In comparison to the same period in the previous year (April 2022), where TIC registered 11 projects worth USD 66.9 million that were expected to generate 1,920 new jobs.
This is equivalent to an increase of 459% in the value of the approved projects, a 137% increase in job creation, and a 127% increase in the number of approved projects.
TIC Registered Investments by Sector April 2022 vs April 2023
For two consecutive months, the Transportation sector emerged as the dominant player, with approved investments worth USD 123.9 million.
This is equivalent to an increase of 121% from the corresponding period last year when the sector registered projects worth USD 56.3 million.
Summary of TIC’s Approved Investments in April 2023
Top Sources of FDI and DDI
While Manufacturing, Commercial buildings, and Transportation sectors were the top three sectors in attracting FDI, the largest portion of the DI was also contributed by the transportation, commercial buildings, and manufacturing sectors.
Likewise, the majority of new jobs are expected to be generated from Manufacturing, Transportation, and Agriculture.
Moreover, the top three leading sources of FDI in April 2023 were India, China, and Oman.
Regional Distribution of Projects April 2023
The projects are primarily concentrated in the Coast region, which has attracted a total of seven (7) projects out of the twenty-five (25) projects registered in April 2023.
These projects are expected to invest a total of USD 207.87 million, which accounts for 56% of the total investment of the 25 projects.