Industry and Investment

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Browsing Industry and Investment by Author "Ministry of Trade"

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    ZANZIBAR BUSINESS ENABLING ENVIRONMENT 2021
    (2021) Ministry of Trade
    The report of Zanzibar Business Enabling Environment is a self-assessment conducted in 2021 to analyses regulatory performance affecting life cycle of business firms and entrepreneurs in Zanzibar domestic economy. The assessment shows that Zanzibar ranked 94 out of 191 economies by scoring 63.2 points comparing with best performance, notable improvement, easier to do business and island economies. According to the score it implies that Zanzibar can be accumulated in the easier to do business economies as it has been undertaking major reforms in improving environment of Doing Business. The analysis for general results further showing that Getting electricity, Investment Climate, Starting a business, and enforcing contracts ranked the best performances indicators in overall assessment. These indicators performed better due to reforms undertaken including minimum procedures, time, and transparency of information, efficiency and reliability of obtaining such services. The regulatory practices relating to Protecting minority investors, Getting Credit Dealing with construction permit, connecting to water and licensing are improving on the on ease of doing business while Trading across border, registering property and Trade Remedies are the lowest performance indicators on Enabling Business Environment of Zanzibar. The inadequate performance of these regulatory practices caused by too many administrative procedures and time consuming for registering of property, congestion at the port and lack of properly legal framework for trade remedies.
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    ZANZIBAR BUSINESS ENABLING ENVIRONMENT ZBEE 2022
    (2023) Ministry of Trade
    The survey on Zanzibar business enabling environment measures and examined six (6) doing business indicators namely starting business, business licensing, getting electricity, property registration, connecting to water and inspections as they apply to a domestic company and business through its life cycle. A fundamental premise surveying and assessing business environment is that economic activities requires good rules and governance that establish and clarify property right and reduce the cost of doing business rules that increase the predictability of economic interactions and provide contractual partners with certainty and protection against abuse. The Survey on ZBEE 2022 revealed that some of the company and business still do not re-register within Online Registration System that lead to lose their legal status and they not be recognized in Business hub for registration, licensing and taxation. Besides, most of SMEs are aware with formalization process although they are not registered in the online system but they request for SMEs identity cards which provided by LGAs. This set will help to get SMEs information, continue to give them training for formalization in the other hand the Government will have database with reliable statistics. The other challenges affecting the starting business is the internal administrative procedures within the authorities with poor customer care, inefficient of workers who works without consider their customers charter and other regulatory instruments. These challenges lead to the delay and time consuming in obtaining particular services