Simbakalia touts EPZ, Tumbi star city project

24Dec 2016
The Guardian Reporter
The Guardian
Simbakalia touts EPZ, Tumbi star city project

LOCAL investors need to grab opportunities presented by the Export Processing Zones Authority (EPZA) in various parts of the country as EPZA guarantees full support, safety of investments and high yearly returns.

EPZA Director General Rtd Col. Joseph Simbakalia made this assurance to visitors on the sidelines of events to mark the seventh anniversary of Mazava Fabrics Produce, held in Dar es Salaam at midweek.

He said that preferential trade agreements between Tanzania and the United States in the AGOA program provide a sure export channel, as well as easy access for Tanzanian products in East African Community (EAC) markets, and markets in Southern Africa under the Southern Africa Development Community (SADC) protocols.

Local investors have an opportunity for predictable high returns, service efficiency and additional benefits in government facilitation and investment packages, he said.

“The EPZ and SEZ schemes allow for secure predictable investments with great returns,” he declared, noting that investing in such areas promises many benefits.

Investments under EPZA enjoy exemption from payment of corporate tax for an initial period of 10 years, exemption from Valued Added Tax (VAT) and customs duty for raw materials, equipment, machinery and construction material being imported or purchased locally and other exemptions, he pointed out.

Col. Simbakalia also welcomed investors for a 140bn/- Star City development project, situated in the Tungi Special Economic Zone (SEZ) in Morogoro region.

When complete, the integrated township project will generate thousands of employment opportunities for the youth in education, light industry, tourism, logistics, commercial, transport and construction sectors, he stated.

The Tungi SEZ was part of plans by the government to create employment for the youth through building industries, he emphasized.

The city will be divided into three development sectors according to existing site conditions, first eco-living (south star), logistic hub (central star) and university town (north star).

Rtd. Col. Simbakalia said the project will contribute to a turn-around of economic fortunes of Morogoro region.
“Morogoro was known for being one of the leading hubs for many industries in Tanzania. However over the years, this status has been lost. With the Star City project, we believe that this lost status will be revived,” he told visitors.

The project shall offer good infrastructure, including tarred roads, power supply and water, among others, he added.