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ICF summit calls for investment priority

Discussion in 'International Forum' started by Geza Ulole, May 5, 2010.

  1. Geza Ulole

    Geza Ulole JF-Expert Member

    May 5, 2010
    Joined: Oct 31, 2009
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    DAILY NEWS reporter, 4th May 2010 @ 12:00, Total Comments: 0, Hits: 95

    THE Investment Climate Facility for Africa (ICF) summit ended in Dar es Salaam today, with delegates resolving to accord investment the priority it deserves if the African continent has to achieve substantial economic progress.

    However, for the investment to flourish, the delegates agreed that political leaders have to demonstrate true commitment to reforms that are aimed at improving investment climate in their respective countries.

    ''We have agreed that investment is a backbone of our economies but before that we need to improve environment for investors,'' Omari Issa, ICF Chief Executive Officer told reporters in the city.

    ''Many African leaders talk about improving investment climate but their commitment to doing it is minimal. ICF has been asked to help those committed leaders,'' Mr Issa said.

    The conference was attended by 200 delegates from across the globe to discuss how to remove barriers in areas of anti-counterfeiting and piracy, business registration and licensing, customs and Taxation and commercial justice.

    President Kikwete joined the summit today, saying Tanzania had political will to addressing the hurdles related to doing business. He said his government was concerned with the 2010 Doing Business Report which ranked Tanzania poorly, some six points down, among countries in the world.

    ''The government understands the importance of improving business environment and that's why we have formed a task force that will look at how we can address these challenges,'' he noted.

    ''There can be no development without investment, for investment to flourish there must be conducive environment,'' the President said.
  2. A

    Alpha JF-Expert Member

    May 5, 2010
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    Blah blah blah... same old story

    Next Year we will be at the same place we are, and you will hear the government is forming a task force to look into the findings of the previous task force.

    Enough with the talking we want to see some action.
  3. N

    Nanu JF-Expert Member

    May 5, 2010
    Joined: May 29, 2009
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    Now Rwanda a person needs only 45 minutes to register a business. This is the improvement we all want to see in Tanzania. For Tanzania it can take 1week to several months. In Singapore it only takes about three minutes from the time you submit the information to the time you receive the registration. It is only by removing unnecessary hurdles we can make a progress economically. This requires political will and commitment and not blah blah!!!
    If we really want changes we need people outside the govt sector to run out these things. You cannot teach the old dogs the new rules.