The pro-business stance of President Samia Suluhu Hassan is
credited with regaining the confidence of both domestic and foreign investors.
The number of registered projects into which the funding was
invested increased from 455 to 575 between March 2021 and February 2023, a 26%
increase.
According to TIC's report, made available to the media
yesterday, Tanzanians own 32% of the projects registered under the current
regime, followed by foreigners at 41% and joint ventures between local and
foreign investors at 27%.
The number of jobs created increased from 61,900 to 87,187
due to the investment during the review period.
Industrial production, increased investment by 49.43% over
the past two years, commercial building construction, increased investment by
17.51 percent, and transportation, increased investment by 11.07%.
The report reads in part “improvement in the business
environment through the blueprint for regulatory reforms is paying off, and
this could be attested to the increase in the investments in the country.”
The report makes further connections between the successful
performance and the nation's attendance at various international conferences.
In a similar vein, the report noted that incentives provided
to domestic investors were responsible for a 26% increase in investment by local
investors.
“The Centre (TIC) in collaboration with Regional
Commissioners’ offices and embassies has continued to encourage both domestic
and foreign investment,” the report reads.
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