The Tanzania Investment Center (TIC) recently disclosed that it registered 132 investment projects between July and November 2022 for a total value of USD 3.16 billion.
In comparison, TIC registered 102 projects during the same period of 2021 for a total value of USD 881 million, marking a staggering increase of over 250% year-on-year.
Speaking during a press conference at the TIC headquarters in Dar es Salaam, TIC Acting Executive Director John Mnali said that most of the registered projects are in manufacturing (51%), followed by transportation (19%), tourism (9%), agriculture (9%), services (6%), commercial building (5%), and lastly financial services (1%).
He added that the projects are expected to create 21,297 jobs in comparison to the 102 projects last year which created about 13,578 jobs.
TIC Objectives for 2022/2023
For the period 022/2023, TIC is collaborating with Tanzania embassies to attract foreign investors, and is implement the following initiatives:
• Continue to improve registration systems to increase the number of investment projects registered and the Center;
• Continue to improve and strengthen the services provided at the One Stop Facilitation Center;
• Continue to monitor and evaluate registered investment projects (Project Monitoring & Evaluation);
• Continue to look for land for investment;
• Continue to encourage investment in Tanzania and abroad through conferences and seminars;
• Continue to provide education to citizens on various investment issues in the country through media and the internet;
• Continue to resolve investment challenges;
• Conduct studies to identify investment opportunities in the country for medium and small entrepreneurs, and improve the investment environment;
• Continue to collaborate with the Tanzanian Embassies in promoting Tanzania to attract investment; and
• Improve the TIC’s staff capacity to carry out their duties effectively.
In addition, in November 2022, TIC launched the SDG Investment Platform which provides data, information, and insights on investment opportunities with the potential to contribute to sustainable development.
The platform aims to mobilize private sector financial resources to achieve Sustainable Development Goals (SDGs) and promote impact investments by providing investors and enterprises with unified standards, tools, services, and best practices to verify contributions to achieving SDGs and identify SDG investment opportunities in Tanzania.
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