Tanzania’s move to attract local, foreign investments pays off

Tanzania Map

Tanzania’s efforts to improve the investment environment have begun paying off after the East African nation registered 240 investment projects valued at 4,387.17 million U.S. dollars between July 2022 and March 2023, a cabinet minister told parliament Thursday.

Ashatu Kijaji, the minister of Investment, Industry and Trade, said the projects were expected to create 39,245 jobs.

Tabling her ministry’s budget estimates for the 2023/2024 financial year in the House in Dodoma, the capital of Tanzania, Kijaji said out of the 240 registered investment projects, 89 were local investments, 94 were foreign investments, and 57 were joint ventures investments.

She said the investment projects recorded during the period under review increased by 34 projects, compared to 206 projects recorded during the same period in 2021/2022.

She pledged that the government will continue improving the investment environment to attract more investors, both domestic and foreign. Enditem

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