Tanzania: Locals Told to Grab Investment Incentives

LOCAL investors have been encouraged to take advantage of the opportunities provided by the Export Processing Zones Authority (EPZA) to establish industries and contribute to economic growth.

Currently over 43 per cent of industries under EPZA are owned by local investors largely contributed by the government efforts to improve business and investment environment in the country.

"EPZA is well placed to offer a wide range of investor support services namely, investment facilitation, licensing, linkages to a range of investment opportunities," said the Senior Investment Promotion Officer at EPZA Mr Panduka Yonazi at the industrial exhibitions taking place at the Sabasaba grounds along Kilwa road in Dar es Salaam over the weekend.

He said the authority provides pre and aftercare services that include provision of guidance and comprehensive information about the establishment of the Export Processing Zones and Special Economic Zones investment in the country.

Panduka said EPZA has used the industrial fair to provide information to exhibitors on the investment opportunities and incentives that can be accessed through EPZA.

The industrial fair gives local investors' confidence to establish industries and enhance its contributions to building industrial economy.

He said further that the exhibition has been an opportunity for local investors including private business owners who visited the EPZA pavilion, seek information on investment opportunities.

"We told local investors on the enabling environment that the government is offering for them to invest and grow their businesses," he added.

The EPZA is responsible for steering and implementing government policy on promotion of Special Economic Zones (SEZs) in Tanzania.

Other functions of the EPZA include successfully developing Export Processing Zones (EPZ) and SEZ infrastructure, provision of business services to foreign direct and domestic investors and issuing of EPZ and SEZ licenses.

The Authority functions as a One Stop Service Centre for all prospective and existing investors.

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.

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