The Tanzania Investment Centre (TIC) records show that Tanzania has garnered a whopping $1.2 billion in FDI in the first quarter of 2023. It further shows increased investment by 52.4% from January to March of 2023 compared to the same period in 2022, owing to an improvement in the economic climate and as a result of current mega-infrastructure projects undertaken by the Government. The investment is directed at 93 projects that is expected to create no less than16,400 jobs.
The strong success is credited to the Government’s continued efforts to create a favorable business climate and Tanzania’s return to international arbitration as a result of modifications to the Tanzania Arbitration Act (R.E. 2020).
Distributed by APO Group on behalf of High Commission of the United Republic of Tanzania Abuja, Nigeria.