Africa: Tanzania Among the Best Countries to Invest in Africa, Says Prime Minister

Dodoma — The government today said that by February 2019, the Tanzania Investment Centre (TIC) attracted 145 new development projects worth $1.84 billion (about Sh4.2 trillion).

This was said by Prime Minister Kassim Majaliwa on Thursday, April 4 while presenting the 2018/19 budget implementation progress report and the 2019/20 budget estimation for his office.

He said while local and foreign investors were controlling 72 per cent and 26 per cent of the projects respectively, the remaining share fell under joint venture category.

Mr Majaliwa said some 15,491 jobs were also created out of the investment in question during that period.

"Following various measures that the government has been taking to convince investors consider Tanzania as the best destination for their investments, reports indicate that Tanzania stands at the apex of the East African countries in attracting Foreign Direct investments," said the Premier.

He added: According to the United Nations Conference on Trade and Development (UNCTAD) 2018 World Investment Report, that Tanzania attracted investors with investments valued at $1.18 billion (Sh2.7 trillion) followed by Uganda's $0.7 billion (Sh1.6 trillion).

According to him, the African Investment Index 2018 ranked Tanzania at the 13th position out of 54 African countries in attracting investors.

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