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The Minister for Finance, Dr. Mwigulu Lameck Nchemba (MP), recently met with the Executive Secretary of the Organization for Economic Cooperation and Development (OECD), Mr. Mathias Cormann, at the OECD Headquarters in Paris, France.
The discussions focused on how Tanzania and the OECD can work together to improve tax policy management, public financial management, financial institution reforms, and investment promotion in Tanzania.
Dr. Nchemba emphasized the Tanzanian government's commitment to strengthening its financial institutions by seeking expert support from the OECD.
This cooperation is part of efforts to increase domestic revenue, attract investment, and improve the business environment in the country.
“Tanzania is ready to work with the OECD to enhance domestic revenue sources, attract investment, and create an inclusive economy that boosts growth and improves the livelihoods of Tanzanians,” said Dr. Nchemba.
Dr. Nchemba also highlighted Tanzania's support for equitable taxation, particularly in the digital economy, and requested the OECD to provide technical training in this area.
Mr. Cormann expressed the OECD’s readiness to assist Tanzania in managing tax policies and promoting investment to boost the country's economy.
He commended Tanzania for its efforts to ensure fair taxation in the digital economy and encouraged the country to join the OECD Development Center, which currently includes 12 African member countries.
He further outlined the benefits of being part of the Development Center, including access to published Revenue Statistics, which improve transparency for investors and development partners, and help countries showcase their financial capabilities to international institutions and private investors.
Mr. Cormann also invited Tanzania to attend the upcoming Development Assistance Forum in May, where Tanzania will have the opportunity to present its development priorities, learn from others, and establish new partnerships in areas like environmental issues, climate change, and inclusive growth.
The Minister for Finance, Dr. Mwigulu Lameck Nchemba (MP), met with the Executive Secretary of the OECD, Mr. Mathias Cormann, at the OECD Headquarters in Paris, where they discussed how Tanzania and the OECD could collaborate to improve tax policy management, public financial management, financial institution reforms, and investment promotion in Tanzania.