Tanzania Sees Massive Investment Surge: 2,099 Projects Valued at Sh67 Trillion Under President Samia’s Leadership
Tanzania has experienced a remarkable investment boom, with 2,099 projects valued at Sh67 trillion recorded over the past four years, according to government sources. The investment landscape has shown significant momentum, with 1,982 projects already operational and contributing substantially to the nation’s industrial growth.
Manufacturing Leads Investment Surge
The manufacturing sector has emerged as the primary driver of investment, accounting for 951 projects worth Sh27 trillion. These projects are expected to generate approximately 124,339 job opportunities, with the total projected job creation across all sectors reaching 539,488.
Diverse Investment Portfolio
The investment profile reveals a robust mix of investment types, including:
– 476 joint ventures
– 117 expansion projects
– 719 domestic investments
– 904 Foreign Direct Investment (FDI) projects
Dar es Salaam and the Coast Region have emerged as the most attractive investment destinations, demonstrating the country’s economic potential.
Investment-Friendly Reforms
Recent legislative changes have significantly enhanced Tanzania’s investment attractiveness. The Investment Act of 2022 introduced critical incentives, including:
– Tax relief on capital goods
– 75 percent import duty reduction
– Lowered capital threshold for domestic investors (from $100,000 to $50,000)
– Enhanced capital protection mechanisms
Strategic Economic Vision
The investment surge reflects the government’s commitment to creating a favorable business environment and driving economic expansion. These efforts are part of a broader strategy to attract global investors and reduce poverty through strategic economic development.
With continued focus on economic diplomacy and investor-friendly policies, Tanzania is positioning itself as a promising investment destination in Africa.
