Mwinyi woos France investors to Zanzibar

ZANZIBAR: ZANZIBAR President Dr Hussein Mwinyi has invited investors from France to invest in the Indian Ocean archipelagos, assuring them a conducive environment for doing business and provision of services.

Speaking during the official launch of the France-Tanzania Forum held in Stone Town, Dr Mwinyi said his government is fully committed to supporting investors by creating a good investment environment.

“I would like to assure you that the Zanzibar government is fully committed to creating a conducive environment for you to do business and invest in this country,” President Mwinyi said.

He mentioned that when President Dr. Samia Suluhu Hassan recently visited France, it demonstrated the country’s commitment to improving trade relations with France and taking the investment sector to greater heights.

Dr Mwinyi highlighted investment opportunities in tourism, seaport development, oil and gas, marine transport, as well as fishing and fish farming.

The business forum brought together key business stakeholders, investors, and industrialists from France and Zanzibar.

A delegation from France was accompanied by the Ambassador of Tanzania to France, Mr Ali Jabir Mwadini, and the French Ambassador to Tanzania, Mr Nabil Hajlaoui.

Dr Mwinyi mentioned that Tanzania and France have been experiencing excellent bilateral relations for decades and that strengthening trade ties will help to cement the good existing relations.

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He also recalled that the French government has been supporting development initiatives through the French Agency for Development in different sectors of the economy.

In January 2020, the French-Tanzania Chamber of Commerce was launched to promote partnerships between French and Tanzanian companies, paving the way for deeper economic relations.

“The chamber has been vital in strengthening trade and investment between Tanzania and France. I commend the role of the private sector, and I hope that the outcome of this forum will boost trade and investment between our countries,” said President Mwinyi.

On tourism, Dr Mwinyi mentioned that the sector has a significant contribution to the economy, accounting for 30 per cent of the GDP.

He highlighted Zanzibar’s tourism attractions, including historical/heritage sites and spice farms.

The government is also developing sports, health, and conference tourism.

He added that the country has a special focus on the Blue Economy, with many people in Zanzibar already benefiting from the sector.

Fishers and seaweed farmers have been supplied with equipment to boost production, and the government, in collaboration with development partners and the private sector, is continuing with the construction of a new multipurpose seaport at Mangapwani.

“We are also developing the ports of Malindi in Stone Town, Mkokotoni in the Unguja North Region, and Fumba in Unguja West District, to meet the growing transportation needs, distribution of goods, and provision of services,” he said.

Zanzibar has improved trade with neighboring ports of Tanga, Dar es Salaam, Mtwara, as well as Comoro.

French Ambassador to Tanzania Mr Hajlaoui commended the existing cooperation between the governments of Tanzania and France.

The forum enabled participants to discuss various business and investment issues such as energy, infrastructure, tourism, the Blue Economy, technology, and environmental conservation.