Tanzania registers 537 investment projects worth $7,222 million

By Lake Zone Watch Writer

Tanzania has registered 537 investment projects worth USD 7,222 million (about 16 trl/-) that will create more than 92,700 employments.

Prime Minister Kassim Majaliwa said on Thursday that registration of the projects has been achieved thanks to the improved One Stop Centre of the Tanzania Investment Centre (TIC), now making it possible for all investors to be accommodated using one window.

The Prime Minister was inspecting the site where construction of the East African Business Centre at Ubungo in the business district of Dar es Salaam is in progress.

According to the Prime Minister, the projects were registered between January 2021and January 2023, commending them as one of the biggest achievements in the country’s history.

“This is indeed the biggest milestone recorded in the country’s business registration history since independence in 1961. May I take this opportunity to welcome more investors to come to Tanzania and enjoy this favourable investment climate,” he said. 

The Prime Minister said the government, through the External Processing Zone’s Authority (EPZA) has successfully managed to register 38 projects worth USD 131million (about 300bn/-) and exports worth USD 191.04million (about 250bn/-) mainly agricultural, industrial, chemical, mineral, livestock and forests based products.

Speaking on the construction of the East African Business Centre, being carried out by the East African Commercial and Logistics Company (EACLC), the Prime Minister said the centre will accommodate more than 2,000 shops to meet the needs of the business community.

The business centre will also be able to accommodate scaled businesses that will be allowed to operate outside the centre’s premises.

“This is good since not all small scale traders will be able to afford paying rents of special stalls inside the business centre,” remarked the Prime Minister.

On her part, the Minister of State in the President’s Office (Regional Administration and Local Governments) Angellah Kairuki said the construction project worth USD 81.8million (about 170bn/-) will connect the country with different business ventures hence strengthening ties with other foreign based businesses.

She said the centre will offer 15,000 direct employment and will help to stimulate 50,000 indirect employment and contribute to the national income through tax and revenue.

Making a brief report, the EACLC Managing Director Dr Cathy Wang said over USD 500million (over 1.2trl/-) will be generated when the project becomes fully operational.

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