Local investors have been encouraged to take advantage of the opportunities provided by the Export Processing Zones Authority (EPZA) through the economic zones to establish industries and contribute to economic growth.
The EPZA Principal Investment Promotion Officer, Ms Nakadongo Fares, said during the 7th exhibition of the local industrial products at Saba Saba grounds along Kilwa Road that investors can invest massively through the Export Processing Zones (EPZ) and Special Economic Zones (SEZ).
"Investors stand a better chance to be successful if they invest through the EPZ and SEZ schemes due to their efficiency in terms of facilitation and incentives package offered," she said.
She said investors invest massively through the two schemes and stressed that the government continues creating conducive investment and business environment in the country for business to thrive and contribute to economic development.
With economic zones already providing necessary infrastructure and incentives, it is possible engage in climate-ready investments and infrastructure, supply chain resilience, technology advancements, artificial intelligence and cyber security.
EPZA has strengthened itself in making the investment environment in the country friendly through SEZ and EPZ programmes that affect strategic sectors such as Agriculture and Industry.
Ms Nakadongo also said that Tanzania has diverse raw materials that will enable the country to build a robust economy and create more jobs if they are used appropriately.
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For example, Tanzania is endowed with a huge number of animals that offer immense opportunities for investors to establish varieties of industries in the whole value chain.
"EPZA is concentrating much on the production of quality goods through the economic zones to compete and capture the global markets," she added.
Ms Fares mentioned also the opportunities in the cotton sector for which local investors can seize immense opportunities and boost their business while contributing to economic growth.
She said the clothing manufacturing industry employed the largest number of people citing the Tanzania Tooku Garments Co. Ltd located at the Benjamin Mkapa Export Processing Zone.
The Tooku factory together with the Mazava fabrics production in Morogoro offers jobs to around 5000 people each.
