Tanzania: Laws, Policies On Investment for Amendment

THE government has started procedures to amend laws and policies on investment to create friendly business environment.

Minister of State in the Prime Minister's Office tasked with Investment Ms Angellah Kairuki said during a consultative meeting that brought together investors and government to discuss the trend, challenges and way forward in matters related to doing business in the country.

"The government's intention is to build industrial and middle income, we will not get there if our development partners from private sector are negatively affected by existing laws and policies," she said.

She said the government is coming up with several amendments to reduce levy, tax and costs of registration at the Tanzania Investment Centre (TIC) that is expected to be tabled in the parliament.

Ms Kairuki thanked investors for their cooperation, saying that in all the areas that such meetings were held the perception was good.

"The response is good, this shows the extent at which we have made progress in attracting investors, we will work on all the challenges that have been presented by investors," she said.

In another development, Minister Kairuki ordered all the regional business councils and all the government agencies dealing with investment matters to reach out to stakeholders and give answers to their challenges.

"We will not progress if our experts will remain locked in offices as investors and businessmen struggle to overcome challenges on their own, I call upon all the agencies responsible with investment to reach out to people and address their challenges," she said.

She also appreciated efforts by Tanzania National Business Council (TNBC) for its role coordination in regions, saying regional and district business councils were important avenues to stimulate business growth and development.

Ms Kairuki said further that a major challenge presented by stakeholders is the lack of proper answers to the challenges they are facing, adding that the matter was alarming given the fact that government experts are employed to answer that call.

"Some of the challenges are not related to existing laws or policies, are caused by people who are employed to work with investors in ensuring smooth operations, the government will not tolerate such public servants, we will deal with them as per the public service laws," he said.

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