15 firms to invest in EPZs

Dr Meru
The Export Processing Zones Authority (EPZA) yesterday awarded certificates to 15 new investors with a potential of creating 13,947 direct jobs for Tanzanians.

EPZA director general Adelhelm Meru said the foreign and local investors had a combined capital of $123 million (about Sh200 billion).

Awarding the certificates to them at EPZA’s Mabibo headquarters in Dar es Salaam, Dr Meru, implored Tanzanians to grab the incentive-rich business opportunities under the Special Economic Zones (SEZs) and Export Processing Zones (EPZs) schemes.

Out of the 15 investors, three are locals, four joint ventures and the remaining eight are foreign companies.

Dr Meru decried the minimal number of Tanzanians coming up for existing investment opportunities, dismissing the common misunderstanding that EPZA exists to serve interests of foreign investors.

“It’s very unfortunate that we, Tanzanians, have not utilised fully the available opportunities in the country,” she observed.

The new investors, with projected $195 million (over Sh300 billion) in export turnover in the first year of operations, come from Korea, America, China, India, Kenya, Israel, Denmark, Singapore and United Kingdom.

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 urged Tanzanians to embrace and welcome foreign investors, saying the country cannot grow economically without them.

The investors said they were pleased to secure the investment licenses under the incentive-rich EPZ scheme.

“I’m too excited to be here, I wish to ask my fellow Tanzanians to exploit the huge investment incentives under EPZA,” Limited’s Murtaza Adamjee from Global Salt Refinery said.

Established by the Export Processing Zones Act, 2002, EPZ provides for establishment of export oriented investments within the designated zones.
Source:The Citizen, reported from Dar es Salaam
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