THE ongoing countrywide crackdowns on public
sector corruption and tax evasion are meant to attract local and foreign
investors towards contributing to the building of an industrialised
economy, Finance and Planning Minister Philip Mpango has said.
Finance and Planning Minister Philip Mpango.
According
to Dr Mpango, so far the move towards industrialisation is going well
following government interventions to improve the investment environment
through scaling up infrastructure and power supply.
“We are now controlling tax evasion…the war against corruption is enhanced,” the finance minister said when addressing over 300 delegates to a two-day REPOA annual research workshop in Dar es Salaam.
“A corrupt nation whose people do not respect the rule of law can hardly achieve the desired development,” he added.
Mpango, who was representing Prime Minister Kassim Majaliwa at the workshop launch, underscored the need for the country to have a system that will enable it to realise its industrialisation strategy.
He highlighted other big government interventions as a review of business regulations, the removal of some taxes, and introduction of skills development programmes to enable the youth get jobs in targeted industries such as textiles, leather and agro processing.
Mpango also asserted that institutional development is crucial for the formation of an industrialised economy since it involves improving laws and policies that influence both the government and wananchi.
It is only through industries that Tanzania will be able to create enough new employment opportunities since the poverty rate is still high at 28 per cent, the minister added.
He also said the government’s decision to add value to agricultural products will stimulate the agricultural sector and create a number of jobs for the youth.
The workshop’s theme this year is ‘Why Institutions Matter for Industrialisation-led Development’.
Bank of Tanzania (BoT) governor Benno Ndulu said Tanzania has been going through a learning process for years as each of its leaders keeps learning from previous leaders.
“We have been on a learning curve for years, but there are consistent improvements in the economy,” Ndulu noted.
Referring to the World Development Report 2017, Dr Deborah Wetzel said the world has witnessed enormous progress in the past 20 years according to socio-economic indicators.
“Policies that are effective in generating positive development outcomes are often not adopted, poorly implemented, or end up backfiring over time”, Wetzel said, noting that proper policies and interventions are needed to generate better outcomes.
She added that rapid diffusion of technology and greater access to capital and world markets have enabled economic growth rates that were previously unfathomable, and helped to lift over one billion people around the globe out of poverty.
“We are now controlling tax evasion…the war against corruption is enhanced,” the finance minister said when addressing over 300 delegates to a two-day REPOA annual research workshop in Dar es Salaam.
“A corrupt nation whose people do not respect the rule of law can hardly achieve the desired development,” he added.
Mpango, who was representing Prime Minister Kassim Majaliwa at the workshop launch, underscored the need for the country to have a system that will enable it to realise its industrialisation strategy.
He highlighted other big government interventions as a review of business regulations, the removal of some taxes, and introduction of skills development programmes to enable the youth get jobs in targeted industries such as textiles, leather and agro processing.
Mpango also asserted that institutional development is crucial for the formation of an industrialised economy since it involves improving laws and policies that influence both the government and wananchi.
It is only through industries that Tanzania will be able to create enough new employment opportunities since the poverty rate is still high at 28 per cent, the minister added.
He also said the government’s decision to add value to agricultural products will stimulate the agricultural sector and create a number of jobs for the youth.
The workshop’s theme this year is ‘Why Institutions Matter for Industrialisation-led Development’.
Bank of Tanzania (BoT) governor Benno Ndulu said Tanzania has been going through a learning process for years as each of its leaders keeps learning from previous leaders.
“We have been on a learning curve for years, but there are consistent improvements in the economy,” Ndulu noted.
Referring to the World Development Report 2017, Dr Deborah Wetzel said the world has witnessed enormous progress in the past 20 years according to socio-economic indicators.
“Policies that are effective in generating positive development outcomes are often not adopted, poorly implemented, or end up backfiring over time”, Wetzel said, noting that proper policies and interventions are needed to generate better outcomes.
She added that rapid diffusion of technology and greater access to capital and world markets have enabled economic growth rates that were previously unfathomable, and helped to lift over one billion people around the globe out of poverty.
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