Dodoma firm on Tanzanians to own 30 percent of the Special Economic Zones

DAR ES SALAAM: THE Minister of State in the President’s Office responsible for Planning and Investment, Professor Kitila Mkumbo, has announced that the government aims to ensure that 30 percent of ownership in special production zones designated for export is held by Tanzanians either through partnerships or full ownership.

He stated that this initiative is part of efforts to fast-track the implementation of the National Development Vision 2050, which targets a national GDP of 1tri US dollars.

Prof. Kitila made the remarks in Dar es Salaam during the launch of special economic zones (SEZs) across Africa aimed at boosting export trade, along with the unveiling of a new WhatsApp-based investor service desk.

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The newly launched investment zones include Bagamoyo, Buzwagi, Kwala, Nala, and the Benjamin Mkapa Industrial Park located in Dar es Salaam.

Minister Kitila emphasized that investments in these zones must comply with government guidelines, which prioritize high productivity, increased government revenue, job creation, export-oriented production, development of other sectors, and domestic value addition.

On his part, the Director General of the Tanzania Investment and Special Economic Zones Authority (TISEZA), Gilead Teri, said that ten priority investment sectors have been identified.

These priority sectors include automobile manufacturing, pharmaceuticals, agro-processing for value addition, and technology industries.

Among the incentives introduced to attract investors to these zones are: free project land, exemption from value-added tax (VAT) on imported machinery and equipment, issuance of all licenses and permits within 24 hours, and a 10-year corporate income tax holiday for companies operating under the Export Processing Zones (EPZ) scheme.