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India piques US, China as leading FDI country
2006-07-20 08:59:19
By Ludger Kasumuni
India has outshone almost all big nations, including the US and China in terms of setting up Foreign Direct Investments (FDIs) in Tanzania over the past nine years.
According to a Tanzania Investment Centre (TIC) report availed to The Guardian, while India invested 120 projects worth USD765.48m during the period under review, the US invested USD342.22m in 99 projects.
Ranking second after the UK, in terms of the value of projects, India also piqued China, South Africa, The Netherlands and Kenya, which have traditionally been among Tanzania’s ten leading investor countries.
It also shows that the sub continent beat other countries, namely Canada, Germany and Italy whose value of investment were USD248.12m, USD117.19m and USD76.23m respectively.
The investments’ value for China, South Africa, The Netherlands and Kenya projects were USD581.25m, 435.82m, 420.39m and USD 396.44m respectively.
In the year 2000, the UK was also the leading FDI nation to Tanzania followed by US, Kenya and South Africa.
The report shows that the 10 leading FDI nations through the TIC brought total investments valued at 4.4tn/-.
The 1518 projects set by investors from the two countries created 406,120 jobs, the report says.
The report also shows that the leading sector in terms of investments value is manufacturing followed by tourism, construction, transport, agriculture and human resources.
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