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Sunday, December 01, 2013 

Tanzania makes $700m from exporting zones

DAR ES SALAAM, Tanzania - The country’s Export Processing Zone Authority (EPZA) last week announced that its total value of exports topped $700million.
Officiating at the Africa Industrialisation Day in Dar es Salaam, Prime Minister, Mizengo Pinda said the government recognises the contribution of EPZA and is committed to ensure that investment continues and improves.
He said the government wants investments in the special economic zones to continue for the benefit of investors and the country at large because EPZA continues to encourage the growth of industries.
The Authority is presently overseeing 81 factories in various parts of the country.
“The total value of investment of these factories is over  $1.12 billion and they have created 27,000 direct employments as well another 80,000 jobs indirectly. The economic processing zones are catalysts speeding up the growth of our economy…creating employment through industrial development,” he said.
He advised both local and foreign investors to invest in the Special Economic Zones and the Export Processing Zones underscoring their ability to create employment as well as secure sustainable development.
According to statistics, contribution of the industrial sector to the country’s Gross Domestic Product (GDP) rose from 9.6% in 2010/2011 to 9.9% in 2011/2012. Direct employment in the sector rose from 115,022 in 2011 to 120,840 in 2012.
Last week, EPZA told East African Business Week the country is expecting to earn over $23 million in export of processed and ready made goods per year.
The authority said it has already received six investors with capital valued at $17 million.
The EPZA Director General, Dr Adelhelm Meru said the six investors will be able to create 720 jobs when operations begin.
Last month, the Authority said it was in the process of adding more special investment areas upcountry to attract more local and foreign investors.
Dr Meru and his officials were meeting with a delegation of investors from Belgium, Greece and Italy.
“We have a lot of opportunities especially in industrial sector where our investors can cooperate with us in setting investments,” he told reporters at the end of a forum that involved Tanzanian business community.
 “We are welcoming them and we are ready to work with them. Their visit has opened a new chapter of our relationship between Tanzania and European investors for the mutual benefits of both sides. We need to utilize this opportunity,” Dr. Meru said.

By Patrick Kisembo, Sunday, December 01st, 2013