THE concerted efforts by the government to create enabling business environment has increased investors’ appetite to invest in Special Economic Zones and Export Processing Zones which are important platforms in building strong industrial economy, the Export Processing Zones Authority (EPZA) Director for Investment Promotion and Facilitation James Maziku said in Dar es Salaam.
Mr Maziku made the remarks while speaking on the participation of the authority at the ongoing Syrian International Exhibitions taking place in Dar es Salaam over the weekend.
The increased investment in infrastructure development namely the construction of the Standard Gauge Railway and rehabilitation of the old railway network, road projects in different parts, the 2115 megawatts Nyerere Hydropower Dam are some of the reasons for investors high appetite to invest in the country.
He mentioned also the blueprint through which the amendments of various laws and regulations and the removal of over 50 fees and charges are some of the incentives for the investors interest to grab and invest in the country’s industrial sector.
Through the Syrian International Exhibitions, he said EPZA is providing necessary information to the exhibitors on the investment opportunities available in the country coupled with various incentives.
“We are using the exhibitions to inform the Syrian business community and other participants to see the huge market potential available in Tanzania and persuade them establish industries here instead of transporting their products all the way from Syria to Tanzania,” he noted.
On his part, Mr Hussan Kasal from Syria who is looking for investment opportunity in the pharmaceutical industry said Tanzania has attractive business environment for them to establish their investment.
“We have come to Tanzania several times for making arrangements before investing in the pharmaceutical industries,” he said after meeting top EPZA officials over the weekend.
Mr Maziku noted further that there is a very close relation between products exhibitions and building the industrial economy because the goods showcased need to be sold in a wider market.
He added, EPZA is using various exhibitions to meet and provide information on the immense opportunities available in the country to prospective investors.
Through this initiative, the authority has been receiving requests from investors globally seeking to invest in the country.
“Representatives of the companies participating in the exhibitions who apart from showcasing their products and technology, are also looking for new investment opportunities in Tanzania,” he said.
Also the exhibitions have become an important platform for the foreign participants to become ambassadors of carrying the message on the immense investment opportunities to their countries which are available in Tanzania.