Tanzania Export Processing Zones Authority Issues 13 New Investor Licenses

Thirteen new licenses were issued to both foreign and Tanzanian investors by the Tanzania Export Processing Zone Authority (EPZA) in March 2014 right after issuing 6 more licenses five months ago.

According to EPZA , combined, the thirteen companies will invest a total capital of USD 62.2 million and create about 3,500 employments and are expected to have exports valued at USD 61.86 million.

Six companies out of thirteen are fully owned by Tanzanians, while two are joint ventures between Sweden and Tanzania – Amama Farms Limited, and Turkey and Tanzania – Tansan Investment Limited.

Other newly licensed companies are: Alkafil Company limited (Oman), Fides Tanzania Limited (Netherlands), Wuzhou Investment Limited (China), Super Power Soap Industries (India), and Diamond Peal Company Limited (Pakistan).

Seven out of the thirteen companies would be working in the processing agriculture sector, which according to Dr. Adelhelm Meru, Director General of EPZA, is a positive thing.

Dr. Meru had also stressed that economic development can only be achieved by having a strong base of industries, and that Tanzania should follow the suit: “We cannot achieve significant development if we don’t have industries: this is what we are trying to do”, he said.

As Dr Meru indicated in his exclusive interview with TanzaniaInvest.com: “ The best facilitation services offered by EPZA, coupled with a lucrative package of incentive […] make EPZA an investment destination of choice. EPZA welcomes investors from all parts of the world to come and grow with us”.

He added, that EPZA projections are to register over 90 companies by the end of the year.

Dr Meru also had noted that after its establishment in 2006, EPZA had been in cooperation with over 60 companies, which already have invested a total capital of more that USD 913 million in Tanzania.