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America to boost cashew nut processing
2005-11-02 08:00:50
By Guardian Reporter
U.S. Ambassador Michael L Retzer yesterday visited the business premises of three major local processors of cashew nuts in Dar es Salaam.
The envoy toured Premier Enterprises, Mohammed Enterprises and Micronix premises, where the directors of the firms reaffirmed their commitment to investing in cashew processing industry.
Over the last year the government worked with the Cashew nut Producers of Tanzania to develop and execute a joint Memorandum of Understanding (MoU), which contained an incentive package, says a press release from the embassy.
The incentives contain reduced taxes and levies, and a commitment from the processors to expand domestic processing.
’’The MOU’s goal is to increase processing in Tanzania by 10,000 metric tons per year over five years. This would also result in 30,000 additional jobs and over $10 million in increased value of cashews exported over the life of the agreement,’’ it says.
As a direct result of this agreement, Premier Cashew reopened the production facility the Ambassador visited yesterday, which now employs over 1,700 workers.
Ambassador Retzer said he was pleased the government and private sector have joined hands as partners, to create a better investment climate.
’’I am pleased that the American people will also be helping to support job creation and increased exports.’’ Ambassador Retzer said.
He was referring to the recent agreement between the United States Agency for International Development (USAID) and the Ministry of Finance for $393,000 to facilitate local production and processing of cashew nuts.
’’With these resources, USAID will support TechnoServe, a U.S. based non-profit organization that has facilitated a partnership between Olam International Limited, the world’s largest cashew trading compay, Tanzanian processors, and the government of Tanzania,’’ says the statement.
This is to optimise the growing, processing, and marketing of cashew nuts in order to expand local processing, develop more local jobs, and increase export earnings, says the statement.
Building on the agreement, Olam International and TechnoServe will join together in a partnership, termed a ’’Global Development Alliance,’ to improve the productivity of small producers and increase yields and incomes in rural areas, it says.
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