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Home >> Business
UPDATED: 15:10, February 05, 2006
Tanzania draws more foreign investments in 2005
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Tanzania has attracted more foreign investment in the past year when more than 2,000 investment projects were registered with the country's investment center.

The figure was revealed on Sunday in a statement delivered by Emanuel ole Naiko, executive director of the Tanzania Investment Center.

The new investment has helped to create more than 100,000 jobs in the east African country, according to the statement.

The Tanzania Investment Center, established in 1995 to draw investment from both overseas and home, has so far registered 3, 531 investment projects, mostly from overseas.

The investments have boosted national tax revenues from 14.5 billion shillings (12.6 million U.S. dollars) to 17.5 billion shillings (15.2 million dollars), according to the statement.

The investment center has contributed up to 87.5 percent of the development in agriculture. It has contributed up to 80 percent of the development in industry and 60 percent in public health.

Source: Xinhua


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