THE top leadership of the international business supporting organ Investment Climate Facility (ICF) has commended Tanzania for introducing and installing a modern system which will facilitate trade and fast track the imports and exports of goods.
ICF Board of Trustees, which comprised international diplomacy and business, gurus toured Tanzania Revenue of Authority (TRA) yesterday and witnessed the progress of the Tanzania Customs Integrated System (TANCIS) whose installation is in the final stages.
The project, which is worth 15.7million US Dollars (about 18bn/-), is co-funded by the TRA and ICF and is due for completion by March next year.
The system will boost the clearance of both imported and exported goods and is expected to improve the job by more than 80 per cent.
Speaking to the 'Daily News' shortly after the visit, a ICF Board member and former UK Senior Minister, Ms Lynda Chalker, said Tanzania has recorded tremendous steps in improving the business climate and reduce costs of doing business.
"By installing this system and many other economic strategies in the pipeline, I can see Tanzania recording major milestones in a number of economic transformations which should be commended and encouraged to keep going," she said.
TANCIS, whose phase one was implemented between 2010 and 2012 followed by the ongoing phase which started in October 2013, will witness the modernization of the customs administration hence reduce the costs of importing and exporting goods.
It will also improve efficiency, transparency, control and risk management pertaining to customs operations. ICF Co-Chair and Board Chairman, Mr Neville Isdell, said that once TANCIS is in place it will hasten the movement of goods and save business time and resources.
"And in the case of Tanzania which has several landlocked countries using its ports, this need is even more crucial," he said. Mr Isdell, together with the former Tanzanian President Mr Benjamin Mkapa, are current ICF chairmen.