Tanzania sees rise in new registered investment projects amid COVID-19 pandemic

Tanzanian flag, Tanzania, Africa

The number of new investment projects registered in Tanzania between March and August in 2021 rose to 133, worth about 2.98 billion U.S. dollars, a senior official said on Sunday.

Gerson Msigwa, Tanzania’s government chief spokesperson, said the new investment projects registered by the Tanzania Investment Center (TIC) are expected to create employment for 29,709 people.

The official attributed the rise in registered investment projects in 2021 to massive reforms being undertaken by the administration of president Samia Suluhu Hassan aimed at making the investment environment more conducive.

He said despite the COVID-19 pandemic that has affected economies across the globe, TIC continued to register both local and foreign investments in agriculture, construction, trade, energy, infrastructure, financial institutions, human resource, industries, transportation and tourism.

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