Plans underway for US$150M first phase of industrial and commercial park in Bagamoyo, Tanzania

Multi-million commercial, industrial park for Bagamoyo

By In2EastAfrica Reporter

Plans are afoot to set up a multi-million industrial and commercial park in Bagamoyo, Coast Region, through the Special Economic Zone (SEZ) arrangement.

The SEZ, which is expected to kick-off next year, will be integrated with the envisaged Mbegani Port in the district, according to the Director of Development at the Export Processing Zone Authority (EPZA), Ms Zawadia Nanyaro.

Ms Nanyaro made the remarks while officiating at the 5th anniversary of an auditing firm, RSM Ashvir at a cocktail reception in Dar es Salaam on Wednesday. “The project will be implemented in phases and we expect that the first phase alone would require an investment of 150 million US dollars,” the official, who was representing the EPZA Director General, Dr Adelhelm Meru, said.

She called on the private sector to partner with the government in execution of the mega project through Public Private Partnership (PPP) arrangement. Ms Nanyaro said the EPZA has so far issued 65 licences for Export Processing Zones (EPZs) country-wide with investments worth 790 million US dollars, where 16,000 jobs have also been created.

Addressing journalists later, the RSM Group Chief Executive and Managing Partner, Mr Ashif Kassam, complained over high interest rates in the East Africa region. “Generally, business environment in East Africa is positive save for high interest rates, bureaucratic business regime as well as slow process in the legal system,” Mr Kassam complained.

Click here for full article in In2EastAfrica

Visit Global Business Parks to search for business parks and industrial parks around the world.

Leave a Reply

You must be logged in to post a comment.