When compared to the same period in 2022, Tanzanias Foreign Direct Investments (FDI) more than doubled in Q3 of 2023. Between July and September of 2023, the East African nation received $1.05 billion in foreign direct investment (FDI) compared to $524.4 million in the same period the previous year.
A recent report showed that Tanzania had doubled its FDI year-on-year capital from $524.4 million between July and September 2022 to $1.05 billion in the same period in 2023. Tanzania’s success in attracting foreign investment is underscored by this remarkable growth.
The report issued by The East African, an East African news publication noted that the country’s “surge in FDI since July is indicative of increased confidence in Tanzania’s economic prospects and potential for investment.”
The country’s president has decided to run an investment-centric administration, pushing for $15 billion in FDI by 2025 and $30 billion by 2023. For this to be the case, Tanzania needs mammoth-level partnerships, and investors willing to break the bank to infuse large amounts of capital into the East African country’s economy.
While still a bit far off, Tanzania already has a number of countries pouring substantial amounts of capital into the country’s business ecosystem, and below are five of them in 2023 thus far, according to the East African.
5 countries with the largest investments in Tanzania currently
Rank | Country | Investment amount |
---|---|---|
1. | China | $614 million |
2. | Singapore | $138.9 million |
3. | Germany | $118.6 million |
4. | India | $42.3 million |
5. | Mauritius | $24.8 million |
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