The Tanzania Investment Centre (TIC) has announced the registration of projects worth $9.3 billion in 2024, signaling strong investor confidence in the country’s economic potential.
These investments span critical sectors such as agriculture, manufacturing, energy, and transportation, aligning with national priorities to drive industrialization and sustainable growth.
TIC CEO Gerson Msigwa emphasized that these projects are projected to generate more than 50,000 jobs, boosting employment and skill development nationwide.
He credited the government’s ongoing efforts to enhance Tanzania’s business environment, including infrastructure upgrades and policy reforms, for attracting both domestic and foreign investors.
To further streamline investment processes, the TIC has prioritized reducing bureaucratic delays and offering targeted incentives, such as tax breaks and expedited licensing.
However, Msigwa acknowledged persistent challenges, including land acquisition complexities and limited access to financing for local entrepreneurs, which require continued attention.
Despite these hurdles, the TIC remains optimistic about Tanzania’s economic trajectory, anticipating that the influx of capital will spur innovation, strengthen value chains, and position the country as a regional hub for trade and investment.
The agency reaffirmed its commitment to collaborating with stakeholders to address barriers and sustain momentum in the coming years.