The Tanzania Investment Centre (TIC), under the leadership of its recently-appointed new Executive Director Gilead Teri, has just released its first Monthly Investment Bulletin-February 2023.
The document indicates that in February 2023 TIC registered 41 investment projects, which represents a yearly increase of 128% compared to 18 projects that were registered in February 2022.
These projects are worth USD 339.2 million and are expected to create 7,370 new jobs.
TIC Registered Investments by Sector February 2022 vs February 2023
Transportation was the leading sector in terms of capital followed by agriculture, manufacturing, tourism, and commercial buildings.
Transportation attracted investment worth USD 156.17 million (46%) while agriculture attracted USD 90.20 million (27%), manufacturing USD 53.68 million, Tourism USD 29.02 million (9%) and commercial buildings USD 10.15 million (3%).
Summary of Registered Investment Projects in Tanzania in February 2022 vs February 2023
Top Sources of FDIs and DDIs
While manufacturing, tourism and agriculture were the top three leading sectors in attracting Foreign Direct Investments (FDIs), Transportation, Agriculture and Manufacturing sectors were the top three leading sectors in attracting Domestic Direct Investments (DDIs).
The top five countries as sources of FDIs in February 2023 were China, DR Congo, the United Kingdom, Malawi, and Kenya.
The majority of the jobs are expected to be created in agriculture, transportation, and manufacturing.
Out of 41 projects registered in February 2023, 34% are fully owned by Tanzanians while 42% are fully owned by Foreigners and 24% are a foreign-local joint venture.
Tanzania Investment Centre Investment Projects Statistics February 2023
Regional Distribution of Projects February 2023
The regional distribution indicates that mainly, the projects are concentrated in Dar es Salaam and Coast regions.
Dar es Salaam and Coast Regions have attracted a total of 28 projects out of 41 projects registered in February 2023.
These projects are expected to invest USD 310.9 million equivalent to 92% of the total investment for all 41 projects.