By Damas Makangale, Dar es Salaam, Tanzania
The Trade volume between Tanzania and India has
reached $400m (Tsh 872,505,180,499 Trillions) through Foreign Direct Investment
(FDI), trade and other business between the two countries.
Speaking to invited dignitaries at the Indian
Business Forum (IBF) recently in Dar es Salaam, the Minister for Justice and
Constitutional Affairs, Dr Harrison Mwakyembe told participants that the fifth
phase government is restructuring its style of leadership to face the long time
business challenges to investors.
 |
| Dr. Harrison Mwakayembe, The Minister for Justice and Constitutional Affairs. |
The government has reiterated it’s ambitious to
continue with the fight against corruption, embezzlement of the public funds,
laziness and impunity with the aim of promoting sustainable business
environment for investors and business communities to foster social economic
development in the country.
He said that India is the second largest investors
in Tanzania so it’s the responsibility of the government to ensure that it’s
create a conducive environment for the business people to do their business
smooth without unnecessary interference through the government officials.
Dr Mwakyembe agreed with the business communities
that multiple government inspections are one of the bottlenecks that hinder
business people and discourage new Foreign Direct Investment (FDI).
“I can assure the fifth president of Tanzania, Dr
John Pombe Magufuli he is walking on his talks on the fight against corruption
that discourages investors,” he said.
He pointed out that house clearing at the all
government institutions is a vital entity for creating a smooth business
environment and sound investment for economic growth of the country.
On his part the chairman of IBF, Gagan Gupta said
that Tanzania and India has a long trade relations and the two countries vowed
to continues increase their economic ties by removing unnecessary barriers.
“the forum has so far have nearly 108 registered
members and the membership drive is still increasing and we have engaged with
various government and private parties in both countries to facilitate trade
and businesses,” he said.
Gupta noted that the core objective of IBF is to
facilitate Indian companies to trade with Tanzania firms and vice versa in an
organized manner to ensure win to win situation.
He clarified that the Indian business, commercial
and professional interest in Tanzania are growing with the Tanzania Investment
Centre (TIC) data, over 300 enterprises with Indian interests exist in the
country with the investment supporting over 50,000 jobs locally.
Moreover, Recently the Indian High Commission in
Tanzania introduced an electronic visa for Tanzanians nationals and removed
visa fees for Tanzanian business people and job seekers in a drive to
strengthen bilateral and economic ties between the two countries.
This was announced at the 67th Indian Republic Day
in Dar es Salaam by the Indian High Commissioner in Tanzania.
Ends.
Post a Comment