The textile and garment industry has contributed a lot to the development of Tanzania’s economy. And so, the Tanzanian government has decided to mobilize the development of the textile and garments industry. The government will work towards improving the ease of doing business in the country.
For this, the Ministry of Industry and Commerce is in the process of reviewing 22 laws and consulting stakeholders in various industries to implement regulatory reforms to improve the business environment.
Last week, the Tanzanian government amended two laws in the 2021-22 budget through the Finance Act 2020.
At the same time, the Trade Remedies Act of 2021 is being introduced to protect local businesses, control imports of goods and control market distortions, so that subsidized products can enter the local market at lower prices.
The proposed law has already been submitted to the government for further action, Tanzanian media reported, quoting Industry and Commerce Minister Kitila Mkambo.
Mkambo said the country’s government seeks to improve various policies and laws to create a conducive business environment. Because it helps businesses to create markets for local products.
More than 232 taxes, fees, and tariffs have already been abolished in Tanzania, in consultation with ministers and government officials, in a bid by President Samia Suluhu Hassan to improve business comfort in Tanzania and amend laws barring investment.