18 August 2014

Tanzania: U.S. Business Forum Starts to Pay Off - EPZA

THREE US companies have applied to invest in the country's export processing zone areas just weeks after a recent business forum prepared by the government in the US.

The EPZA Director General, Dr Adelhelm Meru revealed in Dar es Salaam over the weekend that three US companies have sent requests to invest in areas under the EPZA.

"We have three requests just weeks after the business meeting," he told reporters. He said the companies have applied to invest in hide products value addition, Information and Communication Technology (ICT) and infrastructure development in EPZA areas.

He said that many prospective investors shown interest in investing in agriculture value addition and energy production among others. Other areas are gas and oil exploration and provision of services to companies engaged in oil and gas exploration in Indian Ocean.

The forum dubbed "Doing Business in Tanzania," was organised by Export Processing Zones Authority (EPZA), Tanzania Investment Centre (TIC) and Zanzibar Investment Promotion Agency (ZIPA) in collaboration with the US based Corporate Council on Africa.

President Jakaya Kikwete led Tanzania's government and business officials at the forum. The forum was attended by more than 400 people with companies from almost all US States.

It enabled Tanzania business delegation to meet their USA counterparts and held business talks. During the Summit, President Barack Obama announced US$ 14 billion of trade deals between the United States and Africa.

The targeted sectors include clean energy, aviation, and infrastructure. The US is also providing in another US$ 12 billion to boost Power Africa, Washington's electrification initiative for the continent.

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