Country Snapshot -
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Below are select highlights for the data included in the profile.
- Tanzania is ranked 145th out of 189 economies in Doing Business 2014. Its aggregate score decreased by nine points compared to last year, due to deteriorations in all the sub-indicators. Positive reforms implemented in 2014 made it easier to resolve insolvency. Furthermore, Tanzania improved its credit information system through new regulations that provide for the licensing of credit reference bureaus and outline the functions of the credit reference data bank.
- The top three business environment constraints experienced by private sector firms in Tanzania include access to finance, electricity, and tax rates. As reported by the latest Enterprise Surveys data (2013), the value of collateral needed for a loan or line of credit (as a percentage of the loan value) amounts to 263.8, compared to 171.0 in the region, and 189.4 in all countries surveyed.
- Of the 33 sectors covered by the World Bank Group Investing Across Sectors indicators, 26 are fully open to foreign equity ownership in Tanzania, including manufacturing and primary industries. Establishing a foreign-owned limited liability company in Dar es Salaam takes 14 procedures and 38 days. This is slower than both the Investing across Borders regional average for Sub-Saharan Africa and the global average. In Tanzania, industrial land is publicly held, and the president acts as trustee. Foreign entities are prohibited from owning land, except in the following circumstances: as a right of occupancy for purposes of investment approved under the Tanzania Investment Act; as a derivative right for purposes of investment approved under the Investment Act; or as an interest in land under a partial transfer of interest by a citizen for purposes of investment approved under the Investment Act in a joint venture. Arbitration of commercial disputes is governed by the national Arbitration Act (2002).
- Tanzania’s economic freedom score is 57.8, making its economy the 106th freest in the Heritage Foundation’s Index 2014. Its score is essentially the same as last year, with improvements in investment freedom and trade freedom largely offset by combined deteriorations in monetary freedom, business freedom, and freedom from corruption. Tanzania is ranked 15th out of 46 countries in the Sub-Saharan Africa region, and its overall score is lower than the world average.*