Today marks a momentous occasion for Tanzania’s investment sector and industrial development. The persistent efforts to attract investors to the industrial sector have borne fruit, as numerous industrial ventures have flourished within the nation.
In the coastal region of Pwani, statistics reveal the presence of at least 1,525 industrial establishments of varying significance. Moreover, as of September 2023, the Tanzania Investment Centre (TIC) has registered 417 industrial projects, collectively valued at USD $5 billion (Tanzanian Shillings 12 trillion). This equates to an average investment of USD $12 million per project, and this figure does not even encompass those industries that have yet to formalise their registration with TIC.
The opening of the Sapphire Float Glass plant today is exceptional for several compelling reasons. Firstly, this project stands as the largest single investment registered since the inception of our industrial project registry, boasting a staggering value of USD $311 million (Tanzanian Shillings 745 billion). Secondly, it will emerge as the foremost construction glass manufacturing facility in the East and Central African region, positioned as the fourth largest of its kind on the entire African continent. It is worth noting that this facility is set to diversify its production to include automotive glass, further contributing to its significance.
Thirdly, an impressive 75% of the products manufactured within this facility will be destined for international markets, thereby generating substantial foreign exchange earnings for the country. Fourthly, the establishment of this factory places the country in a formidable position within the expansive African Continental Free Trade Area, positioning Tanzania as a vital participant in this burgeoning market. Additionally, this industrial complex is anticipated to generate a commendable 1,650 employment opportunities once it reaches full production capacity.
President Samia Suluhu, in her address during the inauguration of this remarkable industry, celebrated the promising prospects it offers for the nation. This grand occasion signals the nation’s commitment to fostering an environment conducive to industrial growth and foreign investment. As Tanzania continues to expand its industrial landscape, opportunities abound, not only for economic growth but also for fostering strong international relations and securing a significant position in the global economic arena.
The opening of the Sapphire Float Glass plant stands as a testament to Tanzania’s growing industrial prowess and our unwavering dedication to creating opportunities that drive economic prosperity and strengthen our position on the global stage.