Error MSB4019: The Imported Project Was Not Found – MSBuild

When trying to build a project using MSBuild, you get this error:

Error MSB4019: The imported project was not found. Confirm that the path in the Import declaration is correct, and that the file exists on disk.

To fix error MSB4019, install the appropriate version of the MSBuild Tools and you might also need the appropriate version of the Microsoft Visio Shell.