THE government
efforts to create friendly business and investment environment have
increased local investors' investment in industries under the special
economic zones and export economic zones by...
Speaking at the
presentation during the launch of the business and investment forum in
Mtwara Region over the weekend, Senior Investment Promotion and
Facilitation Officer at EPZA, Nakadongo Fares said the rising appetite
for local investors to invest in industries is a positive sign in
endeavour to build industrial economy.
"Most local
investors were currently taking advantage of the various incentives
provided by the EPZA in establishing industries thus contributing to
economic growth," she said.
She said Mtwara is
blessed with immense investment opportunities particularly in the
cashewnuts production as the region produces over 70 per cent of the
product.
"There is still
huge untapped potential in the agriculture sector particularly in the
cashew nut for local investors to capitalise and establish more agro
processing industries," she noted.
Ms Fares said EPZA
is tasked to identify and take control of the investment areas as well
as provide expertise on the establishment of industries through the
special zones.
Most industrialised
countries managed to establish strong industrial bases through after
allocating sufficient land for developing the export processing zones
and special economic zones.
According to EPZA,
the total capital investment through the export processing zones and
special economic zones projects hit 2.6 billion US dollars, export
revenue worth 1.3 billion US dollars and over 50,000 direct jobs created
by January this year.
Investment Guides
are used to market investment opportunities in the respective region to
potential investors by providing investment information to prospective
local and foreign firms.
It is observed
that, investment opportunities and industrialisation potentials in the
regions emanate from the regional characteristics and strength.
Tanzania aspires to
become a semi-industrialised economy by 2025, the current national
focus is industrialisation guided by frameworks like the Sustainable
Industrial Development Policy (SIDP) 1996-2020, Integrated Industrial
Development Strategy (IIDS) 2025 and the Five Year Development Programme
(FYDPII) 2017/17-2020/21
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