Indian investors to invest in pulses processing

EXPORT and Processing Zones Authority (EPZA) has lured Indian investors to invest in pulses processing factories widely grown in the country while assuring them a list of benefits when they choose to invest in the crop.

The EPZA’s Director for Investment Promotion and Facilitation Mr James Maziku made the remarks in Dar es Salaam yesterday after hosting a delegation of business people and investors from India.

“Investors in the processing of pulses are guaranteed opportunities provided through the authority’s facilities such as Special Economic Zones (SEZ) where 80 per cent of the processed products are for exports market,” he said.

Pulses take up 12 per cent of the perennial crops production in Tanzania and are an important subsistence and cash crop for the mainly small-scale farmers.

Among the numerous types of pulses grown in the country are dry beans, cowpeas, chickpeas, mung beans (green, black, yellow grams) and pigeon peas.

Four main zones, namely Lake, Central, Southern and Northern, are the leading pulse producing regions in the country.

He told the delegation from India that investing under SEZ allows owners to exploit huge domestic and foreign markets, better tax incentives and affordable labour costs.

He said India is still the largest market for pulses from Tanzania and the advent of more investors give positive picture that there is huge and wanting demand for the product.

On his part, the Head of the Indian business and investors’ delegation Mr Pradeep Ghorpade said, “EPZA has given us very good perspective for the Indian investors capitalise on the pulses processing activities.”

He said apart from the processing of pulses set to be established soon, the whole host of activities will attract more businesses for both countries of Tanzania and India to benefit.

Mr Maziku went on to say that since pulses can be grown in over 75 per cent of the arable land in the country thus the initiative gives farmers opportunity to increase production and boost their earnings.

“The increased investment in agriculture sector is of paramount importance assuring farmers’ reliable and high prices on one side and on the other it will boost the sector’s contributions to the economy,” he added.

Mr Maziku said the coming of investors from India follows a meeting between EPZA and investors at a forum held in India in December last year.

Since December last year, there has been growing number of foreign investors contacting EPZA showing huge interests to invest in areas of agriculture, manufacturing and others.

“We call upon stakeholders to build strong coordination with the EPZA in promoting country’s attractions, hosting investors and putting necessary infrastructures in place,” he said.
 

Source: IPP Media