Zanzibar, Singapore open new investment chapter in high-level economic talks
ZANZIBAR: ZANZIBAR has moved to deepen its economic partnership with Singapore, positioning the island as an emerging investment destination in the Indian Ocean after President Dr Hussein Ali Mwinyi held high-level talks with visiting Singaporean President Tharman Shanmugaratnam.
The discussions, held earlier today at the State House in Zanzibar, focused on transforming decades of friendly relations into a structured economic partnership anchored in trade, investment, technology, and skills development.
Dr Mwinyi said Zanzibar is entering what he described as a “new phase of economic diplomacy,” driven by practical cooperation rather than symbolic ties.
“We are opening a new chapter focused on real economic opportunities that deliver mutual benefit,” he said.
According to Aqey Mohamed, the State House Ag Director for Communications, both leaders agreed that changing global economic conditions requires stronger collaboration, particularly in emerging markets and innovation-driven sectors.
Dr. Mwinyi used the meeting to make a direct appeal to Singaporean investors, urging them to explore opportunities in Zanzibar’s blue economy, tourism, and energy sectors.
He highlighted deep-sea fishing, marine product processing, and offshore energy exploration as key areas with significant untapped potential. He also noted that preliminary studies indicate possible energy resources in parts of Zanzibar, opening new frontiers for long-term investment.
Seaweed farming, one of Zanzibar’s fastest-growing coastal industries, was singled out as a sector urgently in need of value addition.
“We must move from exporting raw seaweed to building industries that process and add value locally,” Dr. Mwinyi said.
With tourism and infrastructure development accelerating, Dr. Mwinyi also pointed to rising pressure on Zanzibar’s electricity supply, calling for increased investment in energy generation and distribution.
He further called for cooperation in digital transformation, including e-government systems, institutional modernisation, and technical training programmes for Zanzibari professionals in Singapore.
President Tharman Shanmugaratnam welcomed Zanzibar’s proposals, praising ongoing reforms on the islands and describing them as a solid foundation for investment.
He reaffirmed Singapore’s commitment to strengthening cooperation and encouraged Singaporean companies to explore emerging opportunities in Zanzibar’s economy.
“We see strong potential for partnership, particularly where reform and innovation are already taking shape,” he said.
Following the talks, Dr Mwinyi hosted President Tharman for lunch at the State House, where the two leaders continued informal discussions on future cooperation frameworks.
In a separate engagement, Mama Mariam Mwinyi met Singapore’s First Lady, Ms Jane Ittogi Shanmugaratnam, at the Zanzibar Maisha Bora Foundation offices in Migombani. The meeting explored collaboration in social development and community empowerment initiatives.
The Singaporean President is in the country with his wife for a three-day official visit aimed at strengthening bilateral and regional cooperation.
