Gregory Teu, Deputy Minister for Industry, Trade and Marketing
The Exports Processing Zone Authority (EPZA) in the country has attracted 31 foreign investors with a total capital of over $458milion in the recent past, the authority’s Zawadi Nanyaro said.
According to Nanyaro, the EPZA Director of Development, the “country’s enabling policies unmatched peace and stability, abundant natural resources and EPZA strategic geographical location have attracted investors.”
She mentioned availability of attractive incentive packages, availability of service Industry Park and consistent professional service.
“As one of the leading east African investment avenues we are keen on cultivating a suitable investment climate that will help capitalize on untapped opportunities and the whole African continent.”
He said despite unstable power and other challenges in the Port of Dar es Salaam they have reached the target of attracting investors by 37 per cent in the recent years.
In addition, some 10,276 job were created while recently boosting export revenues to $ 105million.
She revealed that EPZA had adjusted its target upward, slightly envisaging 35 investors with $800 billion in capital.
“Our vision is to become a world class investment promotion and facilitation agency and region’s leader in attracting local and foreign direct investments.”
The centre’s mission is to attract investment by creating conducive business environments through the development of world class industry and commercial infrastructure as well as provision of efficient investment facilitations services and competitive investment incentive.
“Since we become operational six years ago over $1.25 billion worth of investment have created at least 26,381direct jobs,” said the director during an interview with this reporter.
She said apart from all the major factors that attract investors from within and outside Africa is ‘our union,’ and love among Tanzanians.
Tanzania has undertaken a wide-range of social and economic reforms aiming at promoting investment and trade.
The reforms include liberalizing the economy with the private sector playing a leading role as the engine of economic growth, aimed at achieving macro-economic stability.
In turn this has resulted into higher rates of economic growth, low rates of inflation and improvement lf foreign reserves for most of the past decade
Tanzania is one of few countries with abundant natural resources, ranging from minerals to agriculture, forestry and marine resources.
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