Private Sector Calls on Government to Establish Joint Economic Advisory Committee

wb-visitDar es Salaam – The Apex body of the Private Sector in Tanzania, the Tanzania Private Sector Foundation (TPSF) has called for the government to approve the establishment of a joint ‘Economic Advisory Committee”.

This statement was made by TPSF Executive Director Godfrey Simbeye during a visit by World Bank Country Director (Tanzania, Burundi, Malawi and Somalia)  Ms. Bella Bird. Ms. Bird’s visit was aimed at opening dialogue with the Private Sector to properly understand the business environment from the Private Sector’s stand point.

“We at the World Bank have noticed an increasing level of anxiety from both business owners and investors in the country” Ms. Bird remarked. Ms. Bird also pointed out that there also was a significant number of claims concerning Tax Incentives erosion in the country, especially towards foreign investors. “Without proper data to measure these indicators  or validate these claims, we cannot properly ascertain as to how  the World Bank can facilitate the private sector to take a much more active role  and capitalize on the current government’s industrial objective”, she explained to TPSF officials.

Concerns from the business environment were also brought to Ms. Bird’s attention. Speaking at the dialogue TPSF Director for Policy Advocacy, Research and Lobbying Mr. Gilead Teri explained to the World Bank Country Director, that areas of concern from the business community are the country’s skilled labor market which is significantly lower than its neighbors, women and youth empowerment were also areas of major concern.

The Private Sector has many platforms of engagements with the government including Public Private Dialogue (PPD), Big Results Now (BRN), and Tanzania National Business Council (TNBC) which is very encouraging. However as of recent, results from these dialogues have been short on expectations with the TNBC yet to be called to order contrary to the President’s promise four times a year. “There is a need to implement measures to increase accountability from these organs” Mr. Simbeye emphasized. The Economic Advisory Committee is expected to advise senior most government authorities on economic related matters and ensure policies and directives are implemented.

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