THE government has said at least 11tri/- is needed for the implementation of Bagamoyo Special Economic Zone investment project.
This was unveiled in Bagamoyo District, Coast Region on Wednesday after the Minister of State in the President’s Office (Planning and Investment) Professor Kitila Mkumbo led a team of officials from Export Processing Zones Authority (EPZA), Tanzania Investment Centre (TIC), Tanzania Ports Authority (TPA) and others from various ministries to receive the feasibility study and comprehensive master plan report of the Bagamoyo SEZ carried out by consultants from Ardhi University.
Of the total amount need, the government said, it will inject 1.6tri/- for availing infrastructure in the area such as roads, water and electricity.
Prof Mkumbo said the revival of the Bagamoyo SEZ project follows the fundamental decision made by President Samia Suluhu Hassan to revive and pursue the project after it stalled over a decade ago.
“Basing on the report, we speak of the investment worth 11tri/- for the implementation of the Bagamoyo SEZ,” he said, noting that over 200 industries are expected to be established in the zone.
The Bagamoyo SEZ project will constitute the development of 19 areas for various purposes such as industries, trade, logistics, ports and services.
The Bagamoyo SEZ was supposed to be the second investment after the Benjamin William Mkapa Special Economic Zone that was established in 2006 following the government bold decision to have special economic zones in 2004.
However, the Bagamoyo SEZ project stalled in 2010.
“Thus, President Samia has made fundamental decision to push forward the implementation of the Bagamoyo SEZ, and this is the reason we are here today to receive the feasibility study and comprehensive master plan report,” said Prof Mkumbo.
The area is 9,800 hectares of which, 5,473 hectares have been surveyed and 2,422 hectares already compensated, Compensation is yet to be made on 3,320 hectares.
He said after this, the next step is for the government to continue paying compensation to 3,322 people worth 75bn/- as per evaluation carried out in June this year.
He said apart from the compensation exercise, other activities will continue to be implemented in the project area including laying down fundamental infrastructures like roads, electricity, water and natural gas.
Through EPZA and TIC, the government continues to attract strategic investors into the project area to fully exploit the opportunities.
Speaking earlier, EPZA Director General Mr Charles Itembe said the Bagamoyo SEZ project has been included in all the three government development plans 2010 to 2025.
Some of the benefits of the project include contribution to the economic growth, technological development particularly transferring of skills and jobs creation and increase of marine businesses to support port business.
Local companies will also benefit directly and indirectly from the project as well as boosting foreign exchange earnings into the country.
On his part, Coast Region Regional Commissioner Abubakar Kunenge said the people in the project area were closely involved and are providing full support for its implementation.
“As a region, we have assured the government that the project will be implemented smoothly to ensure it contributes to the country’s economic growth, including improving people’s lives,” he said.
The project will also boost government coffers through revenue generation as well as creating more jobs for the youths in the region and elsewhere in the country.