The Tanzania Investment Centre (TIC), has just released its Monthly Investment Bulletin-March 2023 in which it indicates that a total of 37 projects worth USD 796.17 million were approved and registered by TIC in March 2023.
These projects are expected to generate 7,714 new job opportunities in the country.
In comparison, TIC registered 35 projects worth USD 361 million in March 2022 which were expected to generate 6,681 new jobs.
This is equivalent to an increase of 121% in the value of the approved projects, 15% increase in job creation, and 6% increase in the number of approved projects.
Domestic Investments (DIs) accounted for 82% of total approved investments or USD 648 million, while Foreign Direct Investments (FDIs) recorded 18% of total approved investments or USD 148 million.
TIC Registered Investments by Sector March 2022 vs March 2023
The transportation sector emerged as the dominant player, with approved investments totalling USD 393.96 million, a 349% increase from the corresponding period in 2022 with USD 87.7.
Summary of TIC’s Approved Investments in March 2023
Top Sources of FDIs and DDIs
While commercial buildings, manufacturing and transportation sectors were the top three sectors in attracting FDIs, the largest portion of the DI was contributed by transportation, commercial buildings, and manufacturing sectors.
The top five leading sources of FDI in March 2023 are China, the USA, Mauritius, Spain, and India.
Tanzania Investment Centre Investment Projects Statistics March 2023
Regional Distribution of Projects March 2023
Dar es Salaam alone has attracted a total of 20 out of 37 projects registered in March 2023.
These projects are expected to invest USD 672.44 million, equivalent to 84% of the total investment.