Majaliwa: Government to continue supporting investors, businesspeople

DAR ES SALAAM: PRIME Minister Kassim Majaliwa has affirmed that the government will continue to support investors and businesspeople, ensuring they reap significant benefits from their investments, which are crucial for the nation’s broader interests.

Mr Majaliwa made these remarks on Wednesday evening in Dar es Salaam during the launch of a report on improvements in the investment and business environment, as well as tools for managing investments in the country.

He stated that the government has been enhancing its ICT systems, specifically the Tanzania Electronic Window, aimed at serving investors and businesspeople.

This system enables investors to register their projects both within and outside the country and obtain investment permits in a short time, with an estimated processing time of three days.

Moreover, he emphasised that the country remains safe for investment and business.

He urged the President’s Office, Planning and Investment to expedite the revision of regulations and laws that simplify doing business.

He also called on all public institutions and local government authorities to increase collaboration with the private sector.

Additionally, all institutions handling investment and business matters were encouraged to invest in electronic systems and communication to improve oversight.

For his part, Minister of State in the President’s Office for Planning and Investment, Prof Kitila Mkumbo, noted that over the past year, the office had prepared and submitted to Parliament the Public Investment Bill of 2023, which has already had its first reading.

They expect to present it for a second reading in the next parliamentary session.

The office has also drafted a new National Investment Policy for 2024, which will replace the 1996 policy.

Prof Mkumbo further explained that in June 2019, the government officially launched the Business Environment Improvement Action Plan (MKUMBI), aimed at analysing the business environment in the country and identifying reforms and steps needed to address challenges in improving the business and investment climate.

Mr Raphael Maganga, Chairperson of the Private Sector, praised the government for its significant efforts in improving the business environment.

However, he urged the government to adopt more predictable policies, as frequent changes can negatively affect various sectors.

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He particularly highlighted the importance of stable policies in restoring confidence in key sectors, such as banking.

The launch event was also attended by Deputy Prime Minister and Minister of Energy Dr Doto Biteko, Minister of State in the President’s Office for Planning and Investment Prof. Kitila Mkumbo, Deputy Minister for Planning and Investment Stanslaus Nyongo, Permanent Secretary in the President’s Office for Planning and Investment Dr. Tausi Kida, Dar es Salaam Regional Commissioner Albert Chalamila, and other leaders.