Zanzibar confers with EU organs, envoys over stability, investments

24Jun 2022
The Guardian Reporter
The Guardian
Zanzibar confers with EU organs, envoys over stability, investments

ZANZIBAR President Dr Hussein Ali Mwinyi has described on-going efforts to promote peace and stability as meant to create a conducive business environment for more investments.

ZANZIBAR President Dr Hussein Ali Mwinyi.

Opening an investment exploration conference organized by the European Chamber of Commerce in collaboration with the European Union (EU) and Zanzibar authorities, he said the government has put more emphasis on promoting peace and stability as well as good governance as an important ingredient to spur development activities.

The Office of the President (Labour, Economy and Investment) via the Zanzibar Economic Development Authority (ZIPA), the Netherlands embassy and the Abeid Amani Karume International Airport Co. were also involved in organizing the conference, officials said.

Peace and stability enhance investor confidence thus attracting more investors to the scenic archipelago, the president noted, citing the formation of the Government of National Unity (GNU) as demonstrating willingness to addressing challenges to unity and solidarity.

The conference comes at a vital moment as the government focuses on promoting investments and strengthening the tourism industry, he declared, expressing satisfaction with the pace of investments, despite some challenges the government is addressing.

From November 2020 to May 2022 a total of 136 projects estimated to cost $1.4bn have been approved, expected to provide 9,000 employment openings, he stated, characterizing Zanzibar as historically a trading centre.

It had trade relations with European countries since centuries ago, now blossoming again with more investors establishing projects in the archipelago. A third of investment projects come from Europe, he stated, optimistic that the conference will a catalyst to a wide range of investments.

The investment atmosphere will be strengthened when ZIPA sets up a joint service delivery center to bring investment processing services under one roof, cutting out bureaucracy, the president affirmed, laying emphasis on opportunities available in the blue economy, along with agriculture, trade and construction.

Negotiations with interested investors including the government of Oman are continuing to build an integrated port at Mangapwani, he further noted.

ZIPA director general Sharif Ali Sharif commended the EU and related agencies for co-hosting the conference for promoting investment opportunities that Zanzibar offers, underlining that ZIPA is working to meet the needs of prospective investors.

European Union head of delegation Manfredo Fanti said that European countries are pleased with policies and plans of the Zanzibar government, including investment promotion and uplifting tourism.

Netherlands ambassador Wiebe de Boer applauded President Mwinyi for promoting Zanzibar around the world, noting that his period in office has seen increased investor confidence to sink their capital in Zanzibar.

Ambassadors from the European Union area expect to work with him to ensure that the targeted goals are achieved, he added.

Top Stories