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Egyptian traders say impressed by investment opportunities in Tanzania

A DELEGATION of Egypt investors under the Federation of Egyptian Industries (FEI) is in Tanzania to explore investment opportunities, targeting mostly market access to the Southern African Development Community (SADC) region.

Already members have shown interest to invest in construction materials, textile and Agro-processing, said the Dar es Salaam-based Export Processing Zone Authority (EPZA) Acting Director of Investment Promotion and Facilitation, Mr James Maziku when the delegation visited the Zone yesterday.

He said that in various approaches, the authority has been setting proper investment environments to support the country to attain industrialisation drive, including setting aside lands with infrastructures, water and reliable electricity power.

“There are so many reasons for you to invest in Tanzania as it is the world class Industrial Parks, has allowance to develop stand-alone EPZs, lucrative tax holidays, good facilitation services- One Stop Service Centre, availability of a variety of raw materials as well as skilled labour force and preferential trade markets,” he said.

He further talked about the prospects and potential of Tanzania, saying that geographically and strategically, Tanzania retained its ability to offer itself as the eastern gateway to all the nations in the Indian Ocean region.

Tanzania borders eight countries (Kenya, Uganda, Malawi, Zambia, Rwanda, Burundi, Mozambique and Congo), six of which are landlocked (Uganda, Malawi, Zambia, Rwanda Burundi, Congo).

It has four major ports (Dar es Salaam, Tanga, Mtwara and Zanzibar) and three lakes with Victoria shared by Uganda and Kenya, Nyasa by Malawi and Mozambique, and Tanganyika by Burundi, Zambia and Congo. Mr Maziku stressed on the availability of plenty of raw materials, abundant natural resources like minerals and energy and other raw materials like cotton, coffee, sisal.

He said potential investors could invest anywhere in the country, noting that EPZA has been introducing investment zone in various areas, including Special Economic Zone (SEZ) Bagamoyo project in Coast and Kigoma regions as well as Mtwara Freeport Zone.

The Chairperson of the Federation’s African Cooperation Committee, Dr Sherif EI Gabaly responded that, availability of reliable electricity and infrastructures were among the things that would attract many investors from Egypt.

He added that Egypt has long-time ambition to invest in the whole African contentone of main reasons behind the formulation of African Cooperation Committee whose objectives are among others, establishing relationships with trade and industrial organisations.

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Author: ABELA MSIKULA

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