2VP invites Egyptian company to consider investing in Zanzibar

2VP invites Egyptian company to consider investing in Zanzibar

THE Second Vice-President, Hemed Suleiman Abdalla has invited Samcrete, an Egyptian company, to invest in Zanzibar, promising a conducive environment for investment in any project they wish to establish in the islands.

In his discussion with a delegation from the Samcrete Egypt Engineers & Contractors led by its Chief Executive Officer (CEO) Mr Sherif Nazmy, the Second Vice-President said currently there are opportunities in various areas of the company’s expatriate.

Samcrete is a fully integrated engineering, construction and development institute for public and private sectors, established in 1963, with expertise in the fields of roads and ports construction, health, water, education, and power development.

Mr Abdalla informed the officers from the Egyptian company that the Zanzibar government is fully committed to supporting investors, including easing communications and registration of a project.

He thanked Samcrete officers for eyeing to invest in Zanzibar as he directed the State Minister- Economy, Labour, and Investment Mr Mudrik Suleiman Soraga to meet the company for preliminary arrangement plans.

“Since you are ready to invest in Zanzibar, we should not waste time. Any act of bureaucracy should not be allowed. Our ZIPA (Zanzibar Investment Promotion Authority-ZIPA) has been transformed to a real one-stop centre,” Mr Hemed said.

Samcrete CEO Mr Sherif Nazmy said his company is convinced by the conducive investment environment in Zanzibar.

“We can now think of an investment project to start with in the near future,” Mr Nazmy said.

He said, “It is fortunate that there are many opportunities in Zanzibar, we have started to discuss possible projects to begin with. We thank the government for the good reception.”

Author: DAILY NEWS Reporter

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