Zanzibar attracts Singapore investors
ZANZIBAR: THE Zanzibar Investment Promotion Authority (ZIPA) has said the visit by investors from Singapore reflects growing international confidence in Zanzibar as an emerging investment hub in East Africa, driven by government efforts to improve the business environment.
ZIPA Executive Director, Mr Saleh Saad Mohamed made the remarks during an investment exchange meeting between Zanzibar and Singaporean investors held here.
He said the visit underscores Zanzibar’s increasing attractiveness to global investors, citing the wide range of opportunities available across various sectors of the economy.
The delegation visited Mangapwani and Fumba to explore investment opportunities, particularly in land development, tourism, infrastructure and maritime transport.
“Their visit shows that Zanzibar is building a strong reputation on the global investment map. We believe this partnership will open up more opportunities, create jobs and boost our economy,” Mr Saleh said.
He added that Zanzibar can draw valuable lessons from Singapore’s development success, particularly in strategic planning and innovation.
Mr Saleh noted that several major Singapore-linked investments are already underway in Zanzibar, including the Fumba Town development project being implemented by CPS in collaboration with international partners.
He also highlighted the growing trade relationship between Zanzibar and Singapore, noting that Singapore remains a key market for Zanzibar’s cloves through the Zanzibar State Trading Corporation (ZSTC).
“We have strong markets in Singapore, where traders purchase a significant share of our clove production. This is an important opportunity for our farmers and the national economy,” he said.
Zanzibar National Chamber of Commerce (ZNCC) Chairman, Mr Ali Amour, said the visit had greatly benefited local businesspeople by exposing them to Singapore’s development experience.
He noted that Singapore’s success has been driven not by natural resources, but by innovation, discipline and a strong culture of continuous learning.
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“Zanzibar can learn a lot from this approach,” he said.
Mr Amour added that under President Hussein Mwinyi’s leadership, Zanzibar has significantly improved its investment climate, attracting both local and foreign investors.
Meanwhile, business communities from Zanzibar, Mainland Tanzania and Singapore signed a cooperation agreement aimed at facilitating information sharing, promoting investment opportunities and strengthening economic ties.
Plans are also underway to establish a joint council to coordinate collaboration, expand trade and unlock new development opportunities.
