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India,Tanzania : TANZANIA asks INDIA to make new investments to tap the country s potential.

On Thursday Tanzania has requested the investors from India to make foray into the country, with assurances of unparalleled encouraging business scenario.

The Export Processing Zones Authority (EPZA) Director General Dr Adelhelm Meru and Tanzania Investment Centre (TIC) Executive Director Raymond Mbilinyi, while addressing the gathering at a half-day seminar on "Doing business with India" in the capital city of the country, flaunted Tanzania as the top site in the region for investment that offers huge business prospects and political firmness.

Dr Meru stated, "You are all welcome to invest under Special Economic Zones (SEZ) and the incentive rich Export Processing Zones (EPZ)." He has specified the amount of business inducements delivered by the nation to its investors under the SEZ/EPZ schemes.

Mr. Mbilinyi has revealed that the Government is dedicated to tackle the hindrances faced by the investors in Tanzania via its business promotion agencies.

He added, "We know there are still problems facing investors here (Tanzania) but together we can address them to have the business supportive environment in place."

The Indian High Commissioner to Tanzania - Debnath Shaw is positive on the growth of the business involving these two countries.

He added, "Recent years have seen consistent business growth between our two friendly countries, reaching 1.7 billion US dollars in 2011." Mr. Shaw has further said that India is one of the four major trade associates of Tanzania.

The growth in India's exports to Tanzania has been reportedly lower in comparison with Tanzania's to India, facilitating seal the trade deficit. Tanzania's exports to India in 2012 was worth nearly half a billion US dollars.

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Publication:Mena Report
Geographic Code:9INDI
Date:Mar 4, 2013
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