Investing in Tanzania and Zanzibar
- WD Team
H E Dr Ali Mohamed Shein, Vice-President, United Republic of Tanzania and 32-High powered business delegation from Tanzania visited Mumbai last week to showcase the ‘Emerging Opportunities for Business Cooperation Between India and Tanzania’.
Arranged and organized by the Indian Merchants Chambers, the delegate stressed the various opportunites Tanzania and Zanzibar offers to India and Indian business community. The basic economy of Tanzania is agriculture with manufacturing of light commercial goods emerging. Tanzania has vast amounts of natural resources including gold deposits and diamonds. Tanzania is also known for the Tanzanite gemstones. Tanzania has dozens of beautiful national parks like the world famous serengeti and the Ngororngoro crater that gererate income with a large tourism sector that plays a vital part in the economy. Another emerging sector is the production of natural gas and oil. Tanzania seeks investors, corporate partnerships in all these emerging fields, such as food processing, mining, power, oil and gas, tourism, etc.
Zanzibar, although part of Tanzania has limited autonomy in economic and political matters. Zanzibar is now ideal for industries such as, tourism, agro processing, spices and services. They have established Export Processing Zones and free port zones to encourage companies and industries.
There are many reasons to choose Zanzibar for investment, including:
# Minimum political risk: Zanzibar is relatively stable politically, socially and economically. Private investments are welcomed and protected both constitutionally and through international conventions to which Zanzibar, being part of the United Republic of Tanzania, is a signatory.
# Strategic location: Zanzibar is placed within the trade routes of the region and offers an effective springboard for entry into the region.
# Availability of skilled, trainable English speaking labour.
# Free repatriation of profit.
# 100% foreign ownership allowed.
# Opportunity to employ expatriates in key positions.
# Constantly improving business environment.
# Regional and International market concessions.
# Utilize the East African and SADC market by using Zanzibar as a hub for regional trade.
# Enjoy export quotas to EU market.
# Utilize American Market through AGOA.
# Proximity to land-locked countries in Central and Eastern Africa.
For more details, please visit:
http://www.tic.co.tz/
http://zanzibarinvest.org/index.htm
