Tanzania Foreign Direct Investment Highest in East Africa

Recent data released by the United Nations Conference on Trade and Development (UNCTAD) indicates that, in 2013, Tanzania Foreign Direct Investment (FDI) totaled USD 12.7 billion, making it the top FDI destination in the East Africa Community (EAC). The UNCTAD statistics also showed that during the same year, Tanzania attracted USD 1.9 billion in FDI inflows. According to Juliet Kairuki, Executive Director of the Tanzania Investment Centre (TIC), these figures indicate the success of the government’s commitment to improving investment policies and to making Tanzania an attractive investment destination. “Our leaders, including the Prime Minister’s Office which is responsible for investment, have worked extremely hard to implement reforms which were much needed and Tanzania is now reaping the fruits of its labor,” said Ms. Kairuki. According to Ms. Kairuki, Tanzania investment incentives are available to both foreign and domestic investors, which has made it easier to do business in the country. The TIC Executive Director went on to explain the importance of creating new opportunities to attract new capital and indicated that the current green-field investments represent new projects in the country that will lead to additional future investments. “We must work hard to ensure that we are creating viable new opportunities that attract new capital,” said Ms. Kairuki.