TANZANIA'S investment promotion agencies on Thursday invited Indian investors into the country, promising unrivaled supportive business environment.
Speaking at a half-day seminar on "Doing business with India" in Dar es Salaam, the Export Processing Zones Authority (EPZA) Director General Dr Adelhelm Meru and Tanzania Investment Centre (TIC) Executive Director Raymond Mbilinyi, described the country as the best investment destination in the region with immense business opportunities and political stability.
"You are all welcome to invest under Special Economic Zones (SEZ) and the incentive rich Export Processing Zones (EPZ)," Dr Meru said, enumerating the number of business incentives that investors stand to enjoy under the SEZ/EPZ programmes. Mr Mbilinyi said the government, through its business promotion agencies, was determined to address the impediments that still haunt investors in the country.
"We know there are still problems facing investors here (Tanzania) but together we can address them to have the business supportive environment in place," said Mr Mbilinyi. Indian High Commissioner to Tanzania, Debnath Shaw expressed optimism on an upward trend of the business between India and Tanzania.
"Recent years have seen consistent business growth between our two friendly countries, reaching 1.7 billion US dollars in 2011," said Mr Shaw, noting that India is among the four top trading partners of Tanzania.
Tanzania's exports to India are reportedly rising faster than India's to Tanzania, bridging the trade gap. Available statistics show that India's imports from Tanzania reached almost half a billion US dollars in 2012.