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The Business Environment

The Business Environment. Key Issue Discussion GBS Annual Review 23 November 2009. Introduction. Macroeconomic stability and strong economic growth. But sluggish progress of reforms to improve the business environment.

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The Business Environment

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  1. The Business Environment Key Issue Discussion GBS Annual Review 23 November 2009

  2. Introduction • Macroeconomic stability and strong economic growth. • But sluggish progress of reforms to improve the business environment. • Presentation organised around 4 key messages, drawing on results of recent comparative surveys. • Objective of the session is to agree on concrete actions

  3. Message #1 • Tanzania is slipping down the Ease of Doing Business rankings and losing ground against its neighbours.

  4. M1a: Tanzania’s record against the continent’s top performers

  5. M1b: Tanzania’s record against its neighbours in the EAC

  6. M1c: Drilling into the data

  7. Message #2 • The high costs of doing business not only deters new investment but also reduces the competitiveness of Tanzanian firms and Tanzanian exports.

  8. M2a: The % of manufacturing firms that export from Tanzania is low.

  9. M2b: High Cost of Exports

  10. M2c: Other Business Environment constraints (power, finance)

  11. M2d: Power outages in Tz relative to neighbouring economies (2006)

  12. Message #3 • The Government of Tanzania needs to reassure domestic and international investors of its commitment to investment climate reforms, particularly during this Global Economic Downturn

  13. M3: Falling investor confidence • Tanzania Investment Centre reports fall in number of registered investment projects. • “Toxic actions” by Government ministries in the headlines • Uncertainty created has increased the level of perceived risk of investing in Tz • Good reputations hard won are easily lost.

  14. Message #4 • Slow progress in implementation of Investment climate reforms - coupled with vocal complaints from the business community over their treatment at the hands of officials - threaten to undermine the case for GBS

  15. Conclusions • Need to secure agreement on concrete steps that the GoT will take over S/M/L-term to improve the Business Environment • Strong leadership is critical • Seriousness of response taken to 2010 DB survey is encouraging. • Look forward to hearing the outcome of the task force deliberations from PS MITM.

  16. Asante Sana

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