The Tanzania Investment Centre (TIC) registered 41 projects worth $339.2 million last month being 128 per cent increase as compared to 18 projects registered in February 2022.

Out of 41 projects registered in February 2023, 34 per cent are fully owned by Tanzanians while 42 per cent are fully owned by Foreigners and 24 per cent are on Joint Venture ownership.

The projects are largely concentrated in Dar es Salaam and Coast regions with both regions attracting a total of 28 projects out 41 projects registered in February 2023.

According to TIC, there has been an increase in both the number of projects and the value or capital expected to be invested with the registered expected to create 7,370 new jobs.

“Such project value is equivalent to an increase of 347 per cent of expected capital of $75.9 million and an increase of 493 per cent of expected jobs of projects registered in February 2022,” TIC said in its latest Investment Bulletin.

Transportation continued to be the leading sector in terms of capital followed by agriculture, manufacturing, tourism and commercial building.

“Transportation attracted investment worth $156.17 million (46%) while agriculture attracted $90.20 million (27%), manufacturing $53.68 million, Tourism $29.02 million (9%) and commercial building $10.15 million (3%),” the bulletin shows.