Tanzania Investment Center registered 901 projects valued $9.31bn, an increase from 526 projects valued $5.72 billion registered in 2023.

Prof Kitila Mkumbo, the minister of President's Office, Planning and Investments said this yesterday in Dar es Salaam during his meeting with editors  to review Investments achievements recorded in 2024 and  investments attraction outlook for 2025.

Professor Mkumbo said a total number of 212,293 jobs were created last year an increase from 137,010 jobs generated in 2023.

The condusive legal and regulatory measures, political will, the opening of TIC zonal office in Arusha and centralization of services helped to increase investments.

The leading sectors that attracted many projects were manufacturing, transport,  real estate, tourism, and agriculture. 

"2024 was the record breaking year for attracting many investments since the Tanzania Investment Centre (TIC) was established in 1996.

The leading regions for attracting investment according to the minister were Dar es Salaam, Pwani, Arusha, Dodoma and Mwanza due to their potentiality of markets and transport logistics.

The minister said looking ahead, the government is targeting to attract 1,500 projects valued $15 bn at the end of this year, specifically in manufacturing, cleaner energy, service, agriculture, real estate and tourism sectors.

"We want to ensure Tanzania is becoming one of top five countries in attracting investments and capital," he said, adding that the target is to ensure 50pc of projects are owned by Tanzanians from currently 37 percent.

He said the government will continue to improve business environment to ensure Tanzania is becoming the best investment destination.