PROSPECTIVE investors from Singapore are in the country to explore business opportunities, thanks to President Jakaya Kikwete's recent tour of the Asian nation.
The visiting Singaporeans have expressed interest to invest particularly under the Export Processing Zones Authority (EPZA) managed Export Processing Zone (EPZ) and Special Economic Zone (SEZ) programmes.
"My company deals with agricultural pesticides and I'm looking for a place here to do repackaging and distribution to the neighbouring countries' markets," said the Chairman and Technical Director of Asiatic Agricultural Industries Pte Ltd, Mr Chan Chek Chee, in Dar es Salaam.
Mr Chee said his company was doing good business in Tanzania, arguing that the envisaged establishment of the repacking centre in the country was to complement the existing business and turn Dar es Salaam into its East and central African business hub.
EPZA Investment Promotion Manager Grace Lemunge and her counterpart for Investment Facilitation Lamau Mpolo, presenting the available business opportunities to the visiting investors, encouraged Singaporeans to expand their businesses to Tanzania and enjoy the business incentives on offer.
"You are all welcome to set up businesses here and enjoy the unrivaled business incentives offered," Mr Mpolo convinced the Singaporeans. Ms Lemunge, in her presentation, said investors under EPZ/SEZ programmes were entitled to fiscal and nonfiscal incentives and invited the visiting investors to invest in infrastructure development, manufacturing or service provision.
The arrival of the strong business delegation from Singapore is linked to President Kikwete's tour of Japan and Singapore early last June to lure prospective investors from the highly industrialised Asian nations.
EPZA, an autonomous government agency for promotion of export led industrialisation, has attracted over one trillion investments, which have created about 15,000 direct jobs for Tanzanians since it started operations some seven years ago.
EPZ programme, established following the enactment of the Export Processing Zones Act, 2002, provides for establishment of export oriented investments within the designated zones.
Its objectives are to attract and encourage transfer of new technology, attract and promote investments for export led industrialization, create and expand foreign exchange earnings as well as increase employment and develop skilled labour.
