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Student's Book Form Five

Government agencies on policy matters to create a competitive,
Government agencies ensure proper policies attractive, and sustainable investment
and regulations that are developed to climate. Its mandate includes attracting
impact or support the business performance domestic and foreign investors, facilitating
due to their strategy. It is important for business registration and licensing, and
business stakeholders to have knowledge providing advisory services to investors.
FOR ONLINE READING ONLY
of the laws and regulations governing For medium-sized businesses, the Centre
the business environment in Tanzania. offers support in navigating the investment
Different types of laws and regulations landscape, including assistance in obtaining
that can affect business include labour investment certificates, permits, and
and consumer protection, environmental licenses. In addition, TIC plays a significant
protection, social and business legislation, role in creating an enabling environment
and tax legislation. Additionally, there are for medium-sized businesses to succeed
specific laws and regulations for specific by providing information on investment
sectors such as transport, food and beverage opportunities in the country, incentives,
industries, agricultural sector. Some of and regulations.
the government agencies supporting and
regulating businesses in Tanzania are Zanzibar Investment Promotion
the Tanzania Investment Centre (TIC), Authority
Zanzibar Investment Promotion Authority Zanzibar Investment Promotion Authority
(ZIPA), Tanzania Revenue Authority (ZIPA) was established in 1986. It was
(TRA), Tanzania Trade Development initially a department under the Ministry of
Authority (TanTrade), Small Industries Finance and Economic Affairs of Zanzibar.
Development Organisation (SIDO), Micro, ZIPA officially became an Authority under
Small and Medium Industrial Development Act No. 4 of 2018. It is responsible for
Agency (SMIDA), and Fair Competition promoting and facilitating investments
Commission (FCC). These agencies are in Zanzibar. The authority is also
described as follows: mandated to ensure a conducive business
environment, processing approval for new
Tanzania Investment Centre investments, facilitation of incentives,
The Tanzania Investment Centre (TIC) was and all necessary permits to investors.
established in 1997 under the Tanzania Further, ZIPA provides institutional support
Investment Act (1997), Cap 38, Revised for economic development and ensures
Edition (R. E) 2022 as the primary coherent economic and business policy
agency responsible for promoting and formulation in Zanzibar.
facilitating investments in Tanzania. Its key
activities are geared towards coordinating, The Tanzania Revenue Authority
promoting, and facilitating investment in The Tanzania Revenue Authority (TRA)
Tanzania and advising the government was established by Act of Parliament No. 11

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