Tanzania has experienced a remarkable surge in investment projects during the first half of 2024, registering 409 projects valued at $3.09 billion. This represents a significant increase from the previous year, with the Tanzania Investment Centre targeting 293 more projects than were achieved in the 2023/24 fiscal year. Of the 409 projects, 385 are new, while 24 are slated for further development. Foreign investors initiated 185 of these projects, while Tanzanians led 165. The remaining 59 are joint ventures between local and foreign investors. The manufacturing sector dominated with 196 projects worth $1.42 billion, followed by transportation with 68 projects valued at $570.55 million, and commercial buildings at $501.9 million. The tourism sector also saw 40 projects worth $225.44 million, alongside investments in human resources, health, education, and energy.
SOURCE: THE CITIZEN
