Investors urged to capitalise on SEZ, EPZ programmes

TANZANIA: Investors have been counselled to take advantage of Special Economic Zones (SEZ) and Export Processing Zones (EPZ) programmes to produce and process goods for domestic and international markets.

Local and foreign investors are granted licences by the Export and Processing Zones Authority (EPZA) to produce and process goods through the EPZ and SEZ programmes.

The EPZA Head of ICT Unit, Mr Elias Mshomba made the remarks recently during their visit to evaluate industries licensed by EPZA in three regions of Njombe, Iringa and Mbeya.

“There is a huge opportunity for local and foreign investors to produce and process agricultural products for domestic and international markets that could ultimately contribute to the country’s economy,” he said.

He said the EPZA through the EPZ and SEZ programmes has been producing and processing goods that meet the required standards for the global markets like the USA, Asia, Europe and other markets in the continent.

Mr Mshomba said they visited 10 industries licensed by the EPZA during their visits in the three regions. Some of the industries are producing and processing goods for the international markets.

Some of the products produced in these industries include avocados, charcoal briquettes, wood products like plywood, marine board, veneer and furniture board.

He said the evaluation of industries licensed by EPZA will help address various challenges that investors face and help to increase efficiency in the industrialisation agenda.

He said their visits to these industries aimed to meet investors, update their information and listen to their challenges with the ultimate goal of boosting efficiency in industrial production.

Also, their visits focused on providing education on EPZA programmes, including SEZ and EPZ to investors and other stakeholders.

Mr Mshomba said one of the obligations of the Authority is to fulfil the country’s dream of making Tanzania an industrial economy, producing more jobs, processing local raw materials and ultimately contributing to economic development.

He said they provided education on EZPA obligations, investment procedures to be met in establishing SEZ and EPZ, the EPZA success stories since its establishment and the need for councils to set aside areas for investment.

For example, the production of goods through the SEZ window allows exporting 80 per cent of all goods produced and only 20 per cent sold in domestic markets.

Some of the sectors which are currently given more emphasis in the SEZ and EPZ programmes are agriculture, mining, energy, forestry, garment and steel.