Mwinyi welcomes investors and firms to invest in Z’bar

25Oct 2021
By Guardian Reporter
Zanzibar
The Guardian
Mwinyi welcomes investors and firms to invest in Z’bar

ZANZIBAR President Dr Hussein Ali Mwinyi has welcomed investors as well as other firms to invest in Zanzibar while assuring them a friendly environment for their investments.

Zanzibar President Dr Hussein Ali Mwinyi.

Dr Mwinyi made the remarks at the weekend in his speech read on his behalf by the Second Vice President, Hemedi Suleman Abdullah at the exhibition organised by   the Ministry of Lands and Settlements Development at Hotel Verde Grounds, Mtoni in Zanzibar.

He called on financial institutions and other stakeholders to grab the opportunity to build residential houses and allayed fears on their investments due to current great demand of residential houses in the Isles.

In his speech, Dr Mwinyi said the Phase VIII government continues with the process to relocate Zanzibar by establishing new satellite towns with modern houses including Matemwe, Chumbuni and Kilimani, for Unguja, and Finya and Mfikiwa for Pemba.

Also he said in regard to investment, the government through its Lands ministry has already set aside areas at Dunga and Pangupatupu as special industrial investment zones.

He said Zanzibar, as an islands nation has small geographical area hence he directed experts in the Lands ministry to continue with land planning while abiding by urban planning policy.

Dr Mwinyi praised the ministry for its creativity in making the important exhibition a success and urged the ministry officials to hold the exhibition every year.

For his part, the minister for Lands and settlements Development Rizi Pembe Juma said the exhibition aims at efforts to build the blue economy and enhance the Isles economic growth and people’s development.

The Ministry’ Permanent Secretary, Joseph Kilangi said the population increase has made the ministry to come up with a robust plan for better land plans as well as the construction of low cost houses.

For his part, NCBA Bank Ag Assistant Relations Manager, Mulindwa Tishekwa said:

“In the exhibition, NCBA bank has come with good news to all NCBA bank customers and other participants that we have services that can make you realise your potential… … Our soft loans can make you build or complete your residential houses…. And this concerns individuals, firms and corporations.”

He added: “any kind of house building needs correct decisions that enables loan applicant to have ample information on how to obtain financial assistance to implement your project.”