TPSF lauds govt for enhancing business climate

DAR ES SALAAM: TANZANIA Private Sector Foundation (TPSF) has commended the government for improving environment of doing business in the country, enabling private companies to prosper.

TPSF Chief Executive Officer (CEO) Mr Raphael Maganga said on Thursday that President Dr Samia Suluhu Hassan has created friendly climate for the growth of private sector and that the business community was grateful to the initiatives.

He said the Head of State has been at the forefront to push for the strengthening of the sector’s growth by setting strategies that aim at enabling smooth business operations in the country. Mr Maganga was speaking during the climax of Nanenane exhibitions at Nzuguni grounds in Dodoma.

Mr Maganga applauded President Samia for continuing to trust and nurture the private sector in the country, saying with her support, the sector has continued to record good performance and contribute largely to the country economic growth.

“With the full support from the government, Tanzanian companies are now signing joint venture agreements with foreign companies to work together in major projects and setting up big investments. Today we have witnessed two companies, one from Tanzania and another from India joining together to build a tractor assembly plant in the country, this is great achievement,” he explained.

Before addressing the public during the climax of Nane Nane exhibition, President Samia laid the foundation stone for the construction of a tractor assembling plant at Nzuguni area in the capital-Dodoma.

The assembly plant has been jointly constructed by Tanzanian company – Agricom and Indian automobile manufacturing company, Mahindra & Mahindra.

TPSF boss said the process of constructing the plant was attributed to President Samia’s visit to India.

The TPSF boss commended the Head of State for continuing to open opportunities for Tanzanian businesspersons at both national and international levels.

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On agriculture sector, Mr Maganga said TPSF is committed to investing in both agricultural and fishery sectors to ensure food security in the country and promote business in the area.

He said TPSF is continuing with analyses on the policies that hinder the speed of transformation in the agriculture sector.

“We are analysing the policies that seem to be the obstacle for the growth of agriculture sector, we will present our report and advise the government on how the sector could be utilised effectively in boosting the country’s economy,” he noted.

President Samia recently formed the Presidential Commission on tax reforms, tasked with reviewing and advising her on tax matters.

The Head of State appointed former Chief Secretary, Ambassador Ombeni Sefue to chair the commission.

According to a statement issued by Chief Secretary Dr Moses Kusiluka, the commission comprises eight members who will review and provide advice on taxation matters in the country.

The members include the former Governor of the Bank of Tanzania (BoT), Professor Florens Luoga; former Controller and Auditor General (CAG), Professor Mussa Assad; and retired Secretary General and Ambassador, Maimuna Tarishi.

TPSF and traders have been, for a long time, complaining over tax related matters as among obstacles for business growth and investment development in the country.

Last month, Prime Minister Kassim Majaliwa urged ministries and public institutions to ensure they receive and incorporate views from the private sector into revisions of business policies and laws to remove bureaucracy and improve business procedures.