Foreign Exchange Rates

DStv Advert_090724

DStv Advert_090724

SBT Tanzania Advert_291123

Monday, 9 June 2014

TANZANIA TO PROMOTE INDUSTRIES

Tanzania Deputy Minister for Finance, Ms Janeth Mbene
The government has stressed its resolve to continue creating enabling environment for investors in the country as a requisite for sustainable development.
Speaking at the fifth anniversary since the establishment of Mazava Fabrics Produce, the Deputy Minister for Industries and Trade, Ms Janeth Mbene said that investment and especially manufacturing sub sector was one of the government’s priorities.
Mazava Fabrics Produce licenced in Tanzania by the Export Processing Zones Authority (EPZA) is part of the Winds Group. The Morogoro based Mazava Fabrics Produce deals with sports and corporate wear manufacturing.
“We will continue to create enabling environment and support manufacturing industries in the country for the mutual benefit of both sides,” she said.
Since its establishment in 2009, Tanzania exports to the United States through the Africa Growth Opportunity Act (AGOA) arrangement have considerably increased to the value of 8 million dollars up from 3 million dollars per annum.
AGOA is a legislation that was approved by the US Congress in May 2000 with a purpose to assist the economies of sub-Saharan Africa and to improve economic relations between the United States and the region.
“I would like to commend them for the job well done since they started operations,” Ms Mbene told journalists over the weekend in the event held in Dar es Salaam.
Mazava produce various sports wear such as football, baseball, athletics and exports mainly to the United States. The Deputy Minister urged other manufacturers to work hard and smarter to meet required standards for exports and local consumption.
The EPZA Director General, Dr Adelhelm Meru, said the sports textile factory has been able to invest USD 7 million since its establishment.
“This is a significant investment,” he said, adding that the factory has increased employment from 1,000 people five years ago to 2,100 this year.
Dr Meru explained that the factory plans to expand in EPZA area in Bagamoyo district, Coast region, to increase production and exports.
He urged cotton farmers in the country to increase production that will be utilised by the factory and vocational training centres to continue train youths who will be able to be absorbed by the factory.
On his part, the Founder and Chief Executive Officer (CEO) of Winds Group, Mr Urban Geiwald said he was relieved to witness the fifth anniversary of the factory in Tanzania and was looking forward for the best.
In Africa, the Group also operates in Madagascar and Mauritius.

No comments:

Post a Comment