TZ for higher economy ranking
“It is a shame for an investor to spend two years to get a title deed while it takes just two weeks tohave one in Rwanda,” Industry, Trade and Investment minister Charles Mwijage said yesterday. PHOTO|FILE
What you need to know:
- The aim is to raiseTanzania’s position in the global business rankings.
- The facility, by the Tanzania Investment Centre (TIC), has departments that deal with matters such as land, taxation and product standards.
Dar es Salaam. A one-stop shop has been relaunched to improve services for investors.
The aim is to raiseTanzania’s position in the global business rankings.
The facility, by the Tanzania Investment Centre (TIC), has departments that deal with matters such as land, taxation and product standards.
The goal is to shorten the time taken to register an project from 14 days to three.
“It is a shame for an investor to spend two years to get a title deed while it takes just two weeks tohave one in Rwanda,” Industry, Trade and Investment minister Charles Mwijage said yesterday.
He said the goal is to ensure that when the World Bank launches its Doing Business Report 2018 in October next year, Tanzania should have improved significantly to become one of the best 100 countries in the ease of doing business.
During the Doing Business 2017 Report – which was released last month East Africa’s second biggest economy adopted just one reform to and was ranked 132nd, being seven places up from its 139th position in last year’s report.
While the country was credited for extending coverage of the credit reference bureau, the Doing Business 2017 report notes that the government undermined this positive attribute by complicating the tax payment system.
Tanzania was also performing poorly in trading across borders, protecting minority investors, resolving insolvency and registering property.
Mr Mwijage hopes the situation will improve.
