Agriculture sector maintains dominance in investments

TANZANIA : THE agricultural sector has maintained dominance in attracting investment projects registered at the Tanzania Investment Centre (TIC) for the second month in a row.

In August, the sector recorded a total of ten projects worth about 340 million US dollars (about 851.6bn/-) according to the monthly report released by the TIC recently.

The report shows that the number of projects from the sector registered in August will create at least 20,600 jobs in comparison to 616 jobs created from three projects worth 229 million US dollars (about 573.5bn/-) in July.

From the report, the commercial building sector overtook the manufacturing sector in second position by registering a total of five projects worth 307 million US dollars (about 768.9bn/), while the latter recorded 22 projects worth 65 million US dollars (about 162.8bn/-).

This is the stunning attraction of investment as the commercial building in July registered eight projects worth 69 million US dollars (about 172.8bn/-) in comparison to the manufacturing sector which recorded 21 projects worth 82 million US dollars (about 205bn/-).

Overall, a total of 58 projects worth 931.6 million US dollars (2.3tri/-) from all sectors including tourism, services, transportation and economic infrastructure from which over 25,700 jobs have been created in August.

Region wide, Dar es Salaam Region has led by registering 22 projects, worth 111.76 million US dollars (about 280bn/-) and are expected to create 1,778 jobs.

The statement said the Coast Region registered nine projects worth 307.93 million US dollars (about 771bn/-), which are expected to generate 285 jobs.

Dodoma Region registered six projects worth 45.85 million US dollars (about 114.8bn/-), which are expected to generate 580 jobs.

The report shows that Mwanza Region has successfully registered five projects worth 22.41 million US dollars (about 56.1bn/-), which are expected to generate 440 jobs.

It said Kagera Region registered two projects worth 226.57 million US dollars (about 567.5bn/-), which will generate 1,0120 jobs, while Ruvuma Region registered one project worth 33.71 million US dollars (about 84bn/-), which is expected to generate 1,292 jobs.

The report said that of the registered projects, 44 per cent are owned by natives, 14 per cent will be done through joint ventures (JV), while 42 per cent are owned by foreigners.

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