Tanzania, a major focus of most foreign investors

YarnsandFibers News Bureau 2016-08-16 16:30:00 – Africa

Tanzania is becoming a major focus of most investors from Africa and the world. A delegation of bankers and entrepreneurs from South Africa visited the Tanzania Export Processing Zone Authority (EPZA) to explore investment opportunities.

The delegation toured the Tanzania Tooku Garments Co. Ltd; a textile industry which is operating at Benjamin William Mkapa Special Economic Zones, producing a range of textile products especially jeans and shirts for exports. Apart from Benjamin William Mkapa Special Economic Zones, others are Hifadhi EPZ, Vector Health EPZ, Arusha, Kamal Industrial Park and Tooku Garmets.

The Investment and Promotion Manager at the Export Processing Zones Authority (EPZA), Ms Grace Lemunge, welcomed the delegation stating that the special economic zones (SEZs) are geographically designated areas set aside in the country for specifically target economic activities, with support through special economic zone arrangements, including laws and systems, which are often different from those applied in other areas.

Around 144 companies have invested in various economic zones, where 44 percent are foreign and 56 percent are local.

The Frontier Advisor, Deloitte, Mr Martyn Davies in Dar es Salaam said that the eastern part of Africa has been drawing attentions of potential investors not only from Africa but all over the world due to the new investment opportunities in areas of gas and oil, mining and agriculture too.

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