EPZA awards certificates to six new investors

THE Export Processing Zone Authority (EPZA) has issued certificates to six new investors.The EPZA Director General, Dr Adelhelm Meru, issued the Export Processing Zone (EPZ) licences to the six companies that will operate in EPZA areas at a brief ceremony in Dar es Salaam over the weekend. “Developing industrial sector in this country is one of our top priorities,” he told journalists.

The six companies that were given certificates are Kokoa Kamili Ltd, Rift Valley Tea Ltd, Mambo Coffee Ltd, Sheikh Motors Ltd, Afriweld Industries Ltd and Tanzania Macenta Co Ltd.

Among the six two are owned by foreigners from Britain and the US, two are joint ventures, where one comprise Tanzanians and counterparts from Ukraine, while the other comprise Tanzanians and Indians. The remaining two are wholly owned by Tanzanians.

A total investment of the six companies is valued at USD 17 million and over 700 new jobs are expected to be created from them. A total value export of these six companies is expected to be USD 23 million per annum. Dr Meru emphasized that all countries that have achieved significant development have a strong base of industries and that Tanzania should follow suit.

“We cannot achieve significant development if we do not have industries; this is what we are trying to do,” he said. According to the EPZA Director General, industries create jobs, bring income, technology and value addition to country’s raw materials. The six companies will mainly focus on value addition of different agricultural and other products in the country.

He noted that Tanzania mainly export raw materials and in the process lose technology, by products among others. “You become a market of your own products,” he said, adding that the companies will help solve the problem. Dr Meru told the leaders of the companies that by operating under the EPZA areas they are set to benefit a lot from the authority’s services and other government institutions.

“We are the bridge to other government agencies,” he said, adding that EPZA will continue to support and facilitate them toward their success. He appreciated the fact that some companies will be operating outside Dar es Salaam and said that is a good development for the country. On the Tanzanian owned companies, Dr Meru said it was an indicator that even local investors have the capacity to be active players in building their economy and encouraged others to emulate them.

SOURCE: DAILY NEWS