Under the visionary leadership of President Samia Suluhu Hassan, Tanzania's economic landscape has undergone a profound transformation, marked by a surge in investment across various sectors. In three years under the leadership of the sixth phase government, Tanzania has witnessed a significant surge in investment, reflecting a robust economic trajectory. The Tanzania Investment Centre (TIC) has registered 1188 projects, marking a remarkable increase of 63.19%. These projects boast a total value of USD 15.041 billion and have generated a staggering 345,464 job opportunities.
Ownership patterns of these projects highlight a balanced blend of local and foreign investments. Approximately 35% of projects are locally owned, while 41% are owned by foreign investors. Additionally, 24% of projects represent partnerships between Tanzanian and foreign entities.
In terms of production, various sectors have experienced substantial growth. Industrial output has surged by 45.29%, while transportation projects have seen an increase of 18.94%. The tourism sector has also flourished with a growth rate of 9.26%, alongside significant advancements in commercial building construction (8.92%) and agricultural projects (8.50%).
The registration of these projects underscores a surge in investor confidence, with a notable rise in domestic (86.82%), foreign (61.39%), and partnership investments (40.49%) within the past three years.
Notably, the total project capital has seen a staggering increase of 137.5%, reaching USD 15,041.08 billion. Industrial production leads in capital investment, amounting to USD 4.2 billion, constituting 49.43% of the total investment.
Business environment enhancements have also played a pivotal role in fostering investment growth. Improved trade relations with neighboring countries have bolstered capital inflows, particularly in the transportation sector.
Furthermore, significant strides have been made in land accessibility and service provision. Reforms in land acquisition procedures, payment systems, and land documentation have been implemented. Additionally, the establishment and enhancement of the One-Stop Centre for business services across 14 government