As such, the occasion is expected to offer the president a good
platform to address at least part of the myriad of private sector
concerns that have been expressed frequently in many forums.
According to the recently launched 2015 Business Leaders Perceptions survey, a tough tax regime, unreliable power supply, and difficulties in accessing finance have been identified as some of the key drawbacks to successfully doing business in Tanzania.
And also recently, the ministry committee identified the proliferation of regulatory bodies and agencies as another major factor thwarting business growth in the country.
There are also growing perceptions that the government may inadvertently be adopting an anti-business attitude even as it seeks to make Tanzania an industrialised nation with a middle-income economy by the year 2025.
The government recently introduced new guidelines for its coming 2017/18 budget which, among other things, call on government institutions to start doing business with fellow state-owned entities only, literally leaving the private sector out in the cold.
According to the guidelines, the Treasury is to issue official instructions to all central government, local government authorities, public institutions and statutory corporations to engage in government-to-government business dealings, which could effectively strangle private sector companies altogether.
The proposal has already drawn widespread comment, with many describing it as impractical since there’s no way the economy can grow without strong private sector involvement.
Areas expected to be especially affected by such perceived stifling of the private sector include insurance, hospitality, telecoms, media and transport.
Since assuming the presidency in November 2015, Magufuli has overseen a heavy crackdown on tax evasion among members of the local business community, and introduced a raft of tough cost-cutting measures including a ban on government meetings and workshops being held in private hotels.
Many of these moves have had a dire effect on businesses resulting in some companies being forced to downsize their workforces as they seek to align their operations with the new economic realities.
Disposable incomes among Tanzanians have dwindled to the point that many businesses have ended up with reduced revenues and profits.
Although TNBC has been around for a while and this will be its 10th meeting, it had yet to be formally inaugurated.
According to the council’s executive secretary Raymond Mbilinyi, next week’s meeting will provide an opportunity for public and private sector leaders to discuss and exchange ideas on issues of promoting economic growth by improving the country’s business environment.
“Major items on the agenda will be agriculture and industrialisation. We will discuss practical strategies and solutions to improve agriculture while also stimulating the industrialisation goal,” Mbilinyi said.
Tanzania Private Sector Foundation (TPSF) executive secretary Godfrey Simbeye described TNBC as the highest public-private sector dialogue organ.
“The council is made up of 40 members; 20 from the private sector ranging from business owners or leaders, and 20 from the government, including cabinet ministers, the central bank governor and the attorney general,” Simbeye explained.
Established under a 2001 presidential circular, the council allows for public and private sector dialogue with the purpose of reaching consensus and mutual understanding on strategic issues relating to the efficient management of resources in the promotion of social economic development in Tanzania.
It is chaired by the president of the United Republic of Tanzania.
According to the recently launched 2015 Business Leaders Perceptions survey, a tough tax regime, unreliable power supply, and difficulties in accessing finance have been identified as some of the key drawbacks to successfully doing business in Tanzania.
And also recently, the ministry committee identified the proliferation of regulatory bodies and agencies as another major factor thwarting business growth in the country.
There are also growing perceptions that the government may inadvertently be adopting an anti-business attitude even as it seeks to make Tanzania an industrialised nation with a middle-income economy by the year 2025.
The government recently introduced new guidelines for its coming 2017/18 budget which, among other things, call on government institutions to start doing business with fellow state-owned entities only, literally leaving the private sector out in the cold.
According to the guidelines, the Treasury is to issue official instructions to all central government, local government authorities, public institutions and statutory corporations to engage in government-to-government business dealings, which could effectively strangle private sector companies altogether.
The proposal has already drawn widespread comment, with many describing it as impractical since there’s no way the economy can grow without strong private sector involvement.
Areas expected to be especially affected by such perceived stifling of the private sector include insurance, hospitality, telecoms, media and transport.
Since assuming the presidency in November 2015, Magufuli has overseen a heavy crackdown on tax evasion among members of the local business community, and introduced a raft of tough cost-cutting measures including a ban on government meetings and workshops being held in private hotels.
Many of these moves have had a dire effect on businesses resulting in some companies being forced to downsize their workforces as they seek to align their operations with the new economic realities.
Disposable incomes among Tanzanians have dwindled to the point that many businesses have ended up with reduced revenues and profits.
Although TNBC has been around for a while and this will be its 10th meeting, it had yet to be formally inaugurated.
According to the council’s executive secretary Raymond Mbilinyi, next week’s meeting will provide an opportunity for public and private sector leaders to discuss and exchange ideas on issues of promoting economic growth by improving the country’s business environment.
“Major items on the agenda will be agriculture and industrialisation. We will discuss practical strategies and solutions to improve agriculture while also stimulating the industrialisation goal,” Mbilinyi said.
Tanzania Private Sector Foundation (TPSF) executive secretary Godfrey Simbeye described TNBC as the highest public-private sector dialogue organ.
“The council is made up of 40 members; 20 from the private sector ranging from business owners or leaders, and 20 from the government, including cabinet ministers, the central bank governor and the attorney general,” Simbeye explained.
Established under a 2001 presidential circular, the council allows for public and private sector dialogue with the purpose of reaching consensus and mutual understanding on strategic issues relating to the efficient management of resources in the promotion of social economic development in Tanzania.
It is chaired by the president of the United Republic of Tanzania.
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REPORT: Minister Kairuki will hand over a public servants' certificates verification report to President Magufuli at Chimwaga in Dodoma Friday,