Diplomatist Special Report - Tanzania Tanzania 2018 | Page 31

Victoria). “The Standard Gauge Railway project will only
speed up the country’s industrialisation drive”, notes Col
(retired) Simbakalia.
Col (retired) Joseph Simbakalia is an ardent believer and
champion of the new direction. “Tanzania is best placed to
attract investors from industries all over the world because
of vast amounts of natural resources within its boundaries,
availability of massive labour force together with a strong
market base within the country, and the region of East,
Central and Southern Africa as a whole,” he says; adding
that Tanzania is not only reviving industrialisation but also
more determined to build an industrial economy through an
export-led industrialisation, enriched by locally available
resources and supplies.
Established in 2006, EPZA is one of the key Government
institutions responsible for implementing the country’s
industrialisation agenda. The Authority is mandated to
initiate, develop and manage operations of Export Processing
Zones (EPZ) and Special Economic Zones (SEZ). This makes
the Authority a One Stop Center for Industry and Trade
Logistics Investments.
According to Export Processing Zones Act, 2002, EPZs
provide for establishment of export-oriented investments
within designated zones with a view of creating international
competitiveness for export-led economic growth, whereas
SEZs were conceived to promote quick and signifi cant
progress in economic growth, export earnings and
employment creation as well as to attract private investment
in the form of both Foreign Direct Investments (FDI) and
Domestic Direct Investment (DDI) from all productive and
service sectors, as indicated in Tanzania’s Special Economic
Zones Act, 2006.
Additionally, SEZs attract investment in designated areas
by providing quality infrastructure, complemented by an
attractive fi scal package, business support services, cluster
formation and minimal regulations. “Therefore, SEZ program
covers a wider range of allowable activities than the EPZ. It
is, therefore, envisaged that the SEZ program will go a long
way in contributing towards the achievement of economic
objectives and goals of Tanzania’s Vision 2020 aiming at
transforming Tanzania into a globally competitive country,”
underscores Col (retired) Simbakalia.
By investing in Tanzania, investors have an access to over
120 million people in the East Africa Community (EAC)
block alone, and stand to exploit Tanzania’s international
market which brings with it an easy access to a number of
Preferential Trade Agreements with various countries and
other regional blocks that Tanzania is a member of.
Bringing an economic refl ection, Trade Mark East Africa
(TMEA), a reputable aid for trade organisation, argues
that Tanzania is