Tanzania participated effectively in the just ended Expo Korea 2012, winning hearts of many Koreans who have expressed interest to come and invest in the country.

Inspiring presentations by the Tanzanian delegation on the available opportunities, particularly those under the Exports Processing Zones and Special Economic Zones schemes reportedly moved many potential Koreans investors.

An Investment Officer with the Exports Processing Zones Authority (EPZA), Mr Lameck Borega, said in Dar es Salaam yesterday that Tanzania had a highly successful national day on August 10, with detailed presentations by the Minister of Industry and Trade, Dr Abdallah Kigoda as well as EPZA Director General Adelhelm Meru impressing prospective investors.

“Tanzania cultural displays and presentations by the minister and Dr Meru attracted the interest of many investors,” said Mr Borega who attended the international exposition in the port city of Yeosu in South Korea. He said already some companies have started enquiring about the possibility of visiting the country for exploration of investment opportunities.

Some of the big companies that have shown burning desire to come to Tanzania are Mecen Inc, Unison, Green Care, VIR and some IT firms. Available EPZA data show that 700 million US dollars (over 1trn/-) worth of investments have created 16,000 direct jobs, with 450 million US dollars (over 700bn/-) in exports since the EPZ scheme became operational some five 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. The programme objectives are to attract and encourage transfer of new technology, attract and promote investment for export led industrialization, create and expand foreign exchange earnings as well as increase employment and development of skilled labour.

Source Tanzania Daily News