Officials from Ajman Free Zone of the United Arab Emirates (UAE) have recently met with executives from Tanzania’s Export Processing Zones Authority (EPZA) to discuss several areas of cooperation in the management and investment field to facilitate the access of small and medium size enterprises (SMEs) to Arjam’s free zone and promote international expansion.
Ajman Free Zone’s Director General, H.E. Mahmood Khalil Al Hashemi, explained that due to Ajman Free Zone long experience in the field since its foundation in 1988, it could closely work with EPZA to enhance its management and investment strategies and reach further goals than those already achieved.
In addition, among Ajman Free Zone’s priorities is the support to Tanzanian SMEs to make them more competitive by tapping the businesses’ incentives available for them and help Tanzania to build local capacity, Al Hashemi stressed.
As of 2014 EPZA’s total export earnings from members registered under the entity’s legislation, have reached the USD 794 million or TSZ 1.58 trillion in the last five years.
It was product of a capital investment of USD 1.27 billion or TSZ 2.54 trillion that was injected into the members seven years ago when the project started under the surveillance of the Tanzanian Ministry of Industry and Trade.
In 2015, EPZA members’ earnings reached USD 220 million or TSZ 440 billion spread in a total of 130 industries while in 2016, earnings are expected to surpass the TSZ 600 billion.