President John Magufuli at the processing factory in the outskirts of Dar es Salaam. According to the World Bank's Ease of Doing Business report, Tanzania, which has moved from the th position in to nd inis among the countries that have performed well in the Sub- Saharan Africa.
World Bank file photo. By Alawi Masare Dar es Salaam — Tanzania has climbed up ease of doing business rankings, but the country is still lagging behind regional peers because of a complicated tax payment system, a new report shows.
While the country has been credited for extending coverage of the credit reference bureau, the report notes that the government undermined this positive attribute by complicating the tax payment system. Tanzania is also performing poorly in trading across borders, protecting minority investors, resolving insolvency and registering property.
Uganda adopted three reforms, while Burundi made one improvement. Regionally, Tanzania is ahead of Burundi and South Sudan, according to the latest rankings. Doing business rankings are based on the average of how close each economy is to global best practices in business regulation.
A high score indicates a more efficient business environment and stronger legal institutions. The report says that sub-Saharan Africa economies stepped up the pace of reform activity, with 37 economies undertaking a total of 80 business reforms in the past year, an increase of 14 per cent from the previous year.
However, 13 economies in the region had additional hurdles for women entrepreneurs.
Economic experts and private sector players see Tanzania as having a long way to go as far as a conducive investment climate is concerned. Prof Honest Ngowi of the Mzumbe University Business School said the rankings mattered a lot for investment decisions and a low ranking could scare away potential investors who would prefer countries where they could operate smoothly.
The sixth Business Leaders Perceptions of the Investment Climate in Tanzania Report - mentions corruption as the biggest impediment to business growth that has been least addressed by the government. Other issues include tax administration, level of taxes and access to finance.
However, the private sector is banking on President John Magufuli following his crackdown aimed at restoring discipline and accountability in public service. The government said it would continue addressing issues which were adversely affecting the business environment. Read the original article on Citizen.
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Articles and commentaries that identify allAfrica. To address comments or complaints, please Contact us.Tanzania has performed impressively in doing business report, scoring points in distance to frontier (DTF) and rising seven places in the global ranking.
According to the World Bank's Doing business Tanzania - smarter regulations for small and, medium-size enterprises: comparing business regulations for domestic firms in economies () Abstract This tenth edition of Doing Business sheds light on how easy or difficult it is for a local entrepreneur to open and run a small to medium-size business when complying with.
Tanzania is on the spot again over international sanctions after an investigation found out that about 50 vessels owned by—or linked to—North Korea, have been using the country’s flag since March this year in what could constitute a breach of a key UN resolution.
The Doing Business Report (DB) is a report started by Simeon Djankov and elaborated by the World Bank Group since every year that is aimed to measure the costs to firms of business .
Tanzania is one of the fastest growing economies in Africa and doing business here offers excellent opportunities. First, it is important to get to know the business culture in Tanzania well. Doing Business going beyond efficiency -Tanzania (English) Documents & Reports.