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Tuesday, 25 May 2021 13:48

Tanazia reviews laws to develop textile and garment industry

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To improve ease of doing business in textile and garment sector, Tanzania’s Ministry of Industry and Trade is consulting stakeholders to review 22 laws and implement regulatory reforms. The Tanzanian government amended two laws in the Finance Act 2020, it its budget 2021-22 speech. It is currently in the process of introducing the Trade Remedies Act 2021 to protect local businesses, control importation of products and market distortion by subsidized products which come to the local market at lower prices.

It also plans to improve the policies and laws to create a conducive business environment. It will cooperate with businesses to create a market for the local products, says Kitila Mkumbo, Minister of Industry and Trade. Tanzania has also scrapped over 232 taxes, fees, levies to reduce the time and costs for securing licenses and permits to do business in the country, Mkumbo adds.

President Samia Suluhu Hassan had urged ministers and government officials to improve the ease of doing business in Tanzania and amend laws that hindered investments.