By Azania Post Reporter
The Tanzania Private Sector Foundation (TPSF) has urged the government to set up an advisory committee which will allocate Special Economic Zones (SEZ) for industries in an appropriate areas.
The plea was echoed today by the TPSF Vice Chairman Salum Shamte who was reading a speech of TPSF Chairman, Dr Reginald Mengi at the special occasion to inaugurate the 17th TPSF Annual General Meeting in Dar es Salaam.
In his speech, Dr Mengi said that having designated special economic zones with infrastructures accessing roads, railway networks, water and stable electric power supply, the move would placed to support industries as well as attracting foreign investors.
He further said that economic zones are normally also given tax incentives which adds to their appeal to both local and foreign investors.
“Arrangements of the sort have proved a major success in Asian, much more so in countries like China, India, Vietnam, Malaysia, Singapore and many more,” he said.
He adds: “In Africa, we are seeing the likes of Kenya, Ethiopia, Uganda, Ghana and Rwanda steadily following suite with significant success and many more are hoping on brand train.”
The setting of SEZ indeed is not without challenges but are worth overcoming. TPSF advice to the government would be to better capacitate EPZA by allocating a significant amount from its fiscal budget to assist the organ on performing effectively.
On his part, TPSF Executive Director Godfrey Simbeye said: “TPSF would like to congratulate the government of Tanzania on its commitment and continuous efforts to improve the business environment climate in the country.”
He noted: “TPSF believes that this and the fostering of better relationships with the government are vital to realizing social-economic development in the country, we would also once again like to applaud the President’s initiative of hosting the 10th Tanzania National Business Council earlier this month and urges Regional Commissioner and DC’s to follow through with similar engagements with the Private Sector.”
The theme of the TPSF Annual General Meeting (AGM) is centred on ‘Creating an enabling environment for industrialization: the role of PPPs in the development of modern special economic zones’
The AGM brought together its members, private sector stakeholders and development partners as well as invited guests from different government ministries and agencies that area continuously engaging with the private sector without forgetting foreign dignitaries.