Tanzania: Egyptian Traders Keen to Invest in Tanzania

Egyptian investors have shown interest of investing into the country after being attracted with lucrative opportunities and government reforms that have significantly improved the business climate.

Export Processing Zones Authority (EPZA) Manager for Investment Opportunities, Ms Grace Lemunge, told the ‘Daily News’ here yesterday that they were in discussion with some potential investors who took part in the Africa PPB-EXPO and had shown interest to invest in the country.

“So far we have had business discussion with three big companies present here to come and invest here…”

she said at the exhibitions organised by Egyptian manufacturers of plastic, rubber, petrochemical and building materials in Dar es Salaam.

She said OPC-Carbon Holdings has shows interest on building Ammonia plant in southern part of our country which is expected to stimulate the ongoing oil and gas exploration and would encourage mining sector as the gas is used in extraction of metals.

Ammonia is also used as a refrigerant gas, for purification of water supplies and in the manufacture of plastics, explosives, textiles, pesticides, dyes and other chemicals.

Ms Lemunge also said EPZA was inviting other participants in the exhibition and investors from Egypt to come and invest in Tanzania in building materials industries due to the high demand of the materials.

“We have a shortage of building materials in our country, therefore we import most of them especially tiles, we are looking forward to convince these tiles companies here to build tiles industries in Tanzania, that will not only assure employment opportunities to our people, but also will reduce the foreign currencies we use when we import these building materials,” she noted.

According to her, there were investment areas already reserved for investors, further more investors will be assisted by the Authority in early processes.

Africa-PPB-EXPO offered a unique platform for the manufacturers to showcase the latest products and recent technology in plastic, rubber, petrochemicals and building sectors.

Source: Tanzania Daily News.