afrol News, 16 January - Tanzania has slipped three places as a favourite destination for business in 2008 from 124 to 127 out of 181 countries surveyed, the 2009 World Bank Doing Business report launched in Dar es Salaam today revealed.

Tanzania was ranked among the world's top ten reformers by the World Bank in 2007, and drop in the rankings has embarrassed government, with authorities confirming that the slip up is a wake up call for the country to reform its business environment.

The Minister of State in the Prime Minister's Office, Philip Marmo, said the report's findings showed that the country's business environment still contained shortfalls that needed urgent attention.

"This report is a wake-up call to the country. We need to ask ourselves what went wrong and what interventions are required in our determination to restore our performance and rise up the ladder of better regulation consistently," Mr Marmo said.

Being the sixth in a series of Doing Business publications by the World Bank and the International Finance Corporation, the 2009 report showed that Tanzania ranked 14th out of 46, among sub-Saharan countries.

That was way below fellow East African Community members Kenya and Uganda, ranked fifth and tenth, respectively.

By staff writer

© afrol News

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