Why Mkinga ?: The Mkinga Development Project offers an ideal site for the creation of a comprehensive Park based on the following factors:
• Strategic Location: The Mkinga Park Eastern Tanga Region.
As the hub of Tanzania’s ambitious developmental project the port city of Tanga is the gateway into the interior of eastern Tanzania and a key outlet for access to the important markets in Asia, the Middle East and Europe.
• Benefits of a Special Economic Zone By virtue of its location within the Tanga Port , the Mkinga Park exists in a duty-free, low tax multi-sectoral development zone encompassing the seaport of Tanga
Tanzania fully liberalised its economy by removing all obstacles that previously hampered the free flow of trade and private investment. These includes exchange controls, import and export licensing, as well as restrictions on remittances of profits and dividends.
Tanzania is a signatory to a large and growing number of tax treaties and investment promotion and protection Agreements such as the Multilateral Trade System (MTS) ACP Cotonou Agreement, and the Africa Growth and Opportunities Act. This allows exports from Tanzania to enjoy preferential access to world markets under a number of special access and duty reduction programmes.
Since Tanzania has maintained remarkable stability despite changes in its political system Since the re-emergence of multiparty democracy and Tanzania have enjoyed an increased degree of freedom.
Tanzania is making efforts to lower the cost of doing business by conducting extensive business regulatory reforms intended to substantially reduce the number of licensing requirements and to make the licensing regimes more simple and transparent and focused on legitimate regulatory purposes.
Tanzania prides itself in its large pool of higly educated, skilled and sought after work force in Africa, trained from within the country and in institutions in around the world.
As the leading economy in East Africa, Tanzanias’ strategic location and its well developed business infrastructure make it a natural choice for investors and many international firms have made it their regional hub. This grants investors access to the larger East African Community and regional markets with access to over 385 million consumers. Tanzania is also a major transport Hub in East Africa with Connections from JNIA International Airport to Major Destinations around the world. All these are coupled with a convenient Time zone of (GMT +3).
Tanzania is signatory to a number of multilateral and bilateral trade agreements as part of its trade policy. Tanzania is a member of the World Trade Organization (WTO) making her products access more than 90% of world markets at Most Favoured Nation (MFN) treatment. In addition, Tanzania is member to several trade arrangements and beneficiary to trade-enhancing schemes that include the Africa.
• Infrastructure. The Mkinga will have access to the most modern communication, transportation, and telecommunication facilities in the region. The Tanzania will offer global investment opportunities in a world-class business environment ranging from tourism to recreational services, from professional services to multi-modal logistics, from value-added industries to light manufacturing.
• Specialized Concentration. The primary focus of the Mse-zone is to provide a regional hub dedicated to advancing market globalization. By concentrating on building linkages with African, Asian and Middle Eastern markets, the Authority will offer a venue whereby international businesses, governments and a wide range of commercial entities can develop profitable relationships with counterparts in other regions of the world. This site, which will include stateof- the art infrastructure, unique natural and human assets, broad market access, and a business friendly environment, offers investors a springboard to a wide range of regional markets and the global economy.
• Political Stability. Tanzania is one of the most stable countries in the region. A democratic government with an elected National Assembly, Tanzania is one of ’s strongest allies in Africa. Tanzania has consistently followed a pro-Western foreign policy and traditionally has had close relations with the United States. The Mkinga will provide many unique business opportunities and incentives, whether using Mkinga as a gateway to Africa, or as a duty-free and quota-free access to the world’s emerging markets in Asia and Middle East. The Mse-zone will benefit from all these privileges provided by its location within the Mkinga Special Economic Zone
Economic, Capital, Investment opportunities, Setting up business in Mkinga, Key sectors.more