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PM urges investors to take advantage of improved business environment

THE government yesterday in the National Assembly reiterated that the country has now improved investment and business environment.

Prime Minister Kassim Majaliwa, therefore, encouraged local and foreign investors to take advantage of the improved situation.

"I call upon Tanzanians and foreign investors to come and invest in the country, considering the available good investment opportunity and improved business environment," he said.

The PM was speaking during the session of questioning the Prime Minister when responding to inquiry from Special-Seats legislator Jasmine Bunga (CCM).

Ms Bunga said the government's 2025 Development Vision entails the development of industries to enable the country reach middle-income economy.

She said the industrial development needed more number of investors to the sector, but some of the institutions have been discouraging the investors due to existence of bureaucracy.

The MP wanted to hear from the Prime Minister on what measures the government has taken to improve investment and business environment in the country.

Mr Majaliwa explained that the issue of industries and investment opportunities for both local and foreign investors in the sector was the one of the government's top priorities, saying that there are a number of measures already put in place to improve investment and business environment.

He said some of them include the decision by President John Magufuli to introduce a special ministry to deal with investment matters only, while in the past the matters were taken care by the Tanzania Investment Centre (TIC) alone.

Furthermore he said that in efforts of removing bureaucracy, the government came up with a 'Blue Print' document.

He said that the Blue Print, prepared through consultations with various private sector associations and the World Bank (WB) officials will see the government initiate amendments of various laws, including those governing Value Added Tax (VAT), indicative prices for imports, immigration and labour, social security and environmental management, among others.

The PM said that TIC underwent significant improvement, including establishing a one-stop centre where an investor could get all services involving investment under one roof.

This means that now within the TIC there are at least 10 institutions responsible for facilitating investment, such as Tanzania Food and Drugs Authority (TFDA), Ministry of Lands, Housing and Human Settlements, Business Registrations and Licensing Agency (BRELA), among others.

Apart from that, the Premier told the Parliament that the government has introduced electronic system of applying for licences.

This, he said, helps the investors to apply for licences wherever they are, thus getting rid of the need to appear in person at the government offices for such service.

He said that this has helped in saving time for investors and increase revenues to the government.

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Author: BERNARD LUGONGO

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