project as a part of the measures towards meeting the 2025 Vision for Tanzania to become an industrialized middle income country.
According to a statement, the loan agreement is expected to be signed by joint project overseers, the Japan International Cooperation Agency (JICA) and the Ministry of Finance and Planning on Monday, following the exchange of note signed they signed on March 20.
JICA’s spokesperson Helen Masele said in the statement that the Project involves a series of development policy reforms aimed at getting the country rid of critical business environment constraints focusing on key job-creating industries and sectors.
It will address top business environment constraints by simplifying the business registration and licensing regimes, strengthening the effectiveness and efficiency of customs administration, in particular at the port of Dar Es Salaam, says the statement.
It will also help to improve the effectiveness in tax administration and rationalizing tax incentives, simplifying the land registration process, improving access to finance, in particular among micro, small and medium enterprises (MSMEs), and lowering agricultural transport costs.
JICA also expressed its commitment to supporting the new fifth-phase government, saying it would enhance efforts for Tanzania to become an industrialized middle income country as envisaged in Vision 2025.
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