The East African Business Council (EABC) on Tuesday called upon East African Community (EAC) partner states to improve business environment for investors in a bid to spur regional growth.
EABC Chairperson Jim Kabeho urged EAC partner states to accommodate investors raising concern on the failure of some member states in creating a conducive environment for businessmen.
Kabeho made the remarks in a news conference held in Arusha, northern Tanzania’s safari capital, after some east African countries ranking dismally in the Ease of Doing Business Index released by the World Bank last week.
“As the voice of the private sector in the region, we call upon those countries which dropped in the rankings to do more in creating a level playing field for investors”, said Kabeho.
Tanzania ranked 137th globally in the survey that involved 190 countries in the world, only ahead of Burundi in the region, which ranked number 164.
EAC Secretary General Libérat Mfumukeko noted that the region is striving to improve investment opportunities despite the existing challenges.
“Currently, we are working closely with EABC to establish a special desk for prospective investors so that they do not struggle while settling in the region,” he said.
Mfumukeko said the EAC Secretariat is determined to facilitate the growth of small business and further improve regional trade.
With a market size of 150 million people, the EAC offers investment opportunities from a host of sectors including trade, energy, infrastructure, finance, and agriculture. Enditem