Through the Tanzania’s Export Processing Zones (EPZ) Programme, export investments of one billion USD from 70 corporations has been spent on working capital and 700 million USD turnover was generated within the designated zones.
The zones are formulated and made conducive to draw in investments, transfer new technology, develop skills and create employment as well as expand foreign exchange earnings through exports.
New investments were registered from diverse global capital backgrounds, USA, UK, China, India, Kenya, Singapore and Isreal which created over 26 000 jobs t date and continued investments in the country have a potential of creating over 13 000 more jobs in the near future.
EPZA Director General; Dr Meru said “The investors’ operations range from infrastructure development, processing and production of agricultural and minerals products, manufacturing of electrical appliances, motorcycle assembly and textiles,”
Dr Meru also expressed concern over Tanzania local private sector and seizing the opportunities available to them.
“It’s very unfortunate that we, Tanzanians, have not utilized fully the available opportunities in the country” he said. Of the entrants to EPZ, only 3 were domestic companies, 4 were joint ventures and 8 were foreigned owned business.
However not all local business were unaware of opportunities through the changing business climate of the country, Local Investor, Murtaza Adamjee of Global Salt Refinery Limited, said “I’m too excited to be here, I wish to ask my fellow Tanzanians to exploit the huge investment incentives under EPZA.”
EPZA is Tanzania’s Export Processing Zone Authority established in the country since 2006, operating under the Ministry of Industry and Trade and serves as the country’s principal agent for promoting investments.