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Tanzania Registers $3.5 Billion Investment Projects In Seven Months

A general picture shows the skyline of Tanzania’s port city of Dar es Salaam, file. REUTERS/Andrew Emmanuel

 

Tanzanian authorities said on Wednesday a total of 182 investment projects worth 3.5 billion U.S. dollars were registered in the east African nation between April 2021 and October 2021.

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Geoffrey Mwambe, the Minister of State in the Prime Minister’s Office responsible for Investment, said 164 of the 182 investment projects were registered by the Tanzania Investment Center (TIC) and 18 projects were registered by the Export Processing Zone Authority (EPZA).

“The 182 registered investment projects in the past seven months are expected to create 48,000 jobs for Tanzanians,” Mwambe told a news conference in the capital Dodoma.

He said most of the registered investment projects covered agriculture, construction, manufacturing, industry, and mining.

Mwambe attributed the impressive flow of investment projects to measures aimed at improving the investment environment being undertaken by President Samia Suluhu Hassan’s administration.

Mwambe pledged that the government will continue taking measures aimed at making the environment more conducive for investment.

“The measures include amendment of outdated investment laws, policies, and regulations,” said the minister.

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Written by PH

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