Leading chief executive officers are pushing for the implementation of issues raised by the private sector to ease of doing business.
CEO Round Table (CEOrt) chairman Sanjay Rughan said at the monthly meeting that they see there is political will towards harnessing business environment, but they want more to be done.
According to him, they see positive developments in agriculture, construction, digital and transport and logistics sectors.
“Starting implementing the Blueprint document gives us the confidence that the government is listening and working on our concerns. However, there are many other issues which still needed to be implemented,” he said.
He revealed also that CEOrt has invited Industry and Trade minister Innocent Bashungwa, PwC Tanzania country partner and African Development Bank country representative Alex Mubiru to a discussion on Tanzania’s economic growth prospects.
“The discussion will focus on the current economic perspective and way forward to attract more local and foreign investments. We will also use the platform to push for more public-private dialogues,” he said.
The CEOrt also used the forum to congratulate Mr Bashungwa on his appointment.
Meanwhile, Mr David Tarimo of PwC said although the country has maintained steady economic growth in the past few years, it was still not doing very well in attracting new foreign direct investments (FDIs) and in the global standards on ease of doing business.
The World Bank’s Ease of Doing Business Index ranks Tanzania as 144th out of 190 countries in 2019, slipping down from 137th in 2018 and 125th in 2010.
Again, the World Investment Report 2019 shows that FDI increased by 18 per cent to $1.1 billion compared to $1.2 billion recorded in 2018.
According to him, investors are afraid of the unpredictable policies and laws.
“I’m positive that the government can do more to increase the FDIs if it works closely with the private sector, listening and executing their thoughts,” he said.
Source: The Citizen