Zanzibar Investment Promotion Authority (ZIPA) has noted that there has been something special in three years of President Dr. Hussein Ali Mwinyi’s tenure in office. The presidenthas done twice as much compared to six years ago when it comes to attracting Foreign Direct Investments (FDIs); this is unparalleled in the history of Zanzibar.
In that period of three years, ZIPA registered a record number of 296 investment projects worth USD 4.5 billions (11.9 trillion/-) which created 18,900 job opportunities to Zanzibari.
Tourism is one of the thematic areas of the Blue Economy initiative which is dear to the President Mwinyi. A total of 112 of projectshave been registered and are concentrated in the booming tourism sector.
Zanzibar is also doing very well in agriculture, livestock and fisheries where a total of 26 projects have been registered and a lot more are being done to modernize fisheries especially deep-sea fishing.
Zanzibar promotes investment including construction of factories, however it encourages light industries. In the past three years it has registered 36 projects that are not a threat to the environment.
One of the important catalysts for investment is infrastructure. Looking around in Zanzibar today there is either construction of a new road or rehabilitation works going on.
President Dr Mwinyi has made clear his intention to open Pemba economically. There is a new 13.8-kilometre tarmac road to Micheweni Free Economic Zone which boasts an area of 808.8ha and is located in the Northeastern tip of Pemba Island, approximately 75 kilometers from the Mkoani seaport and 45 kilometers from Chake Chake Airport.
The zone provides uninhabited and ready land for a variety of investments.
There is electricity access and internet via fibre optic broadband in Micheweni. There is a new boat for Unguja-Pemba trips; Pemba is truly opening up. To clarify the decision of President Mwinyi to open up the small islands for investment was well thought-out and
Has good intentions.
In total, Zanzibar has 52 islands in both Unguja and Pemba. Out of the number, 17 are already up for investment designed as a special niche which does not permit just ordinary investment but high-end propertied with huge returns.
ZIPA has an elaborate investment promotion plan designed to make Zanzibar the most attractive place for investors who are keen to get return for their investments because of its ever-growing and relative peace.
ZIPA currently has 10 forums in their timetable, targeting potential investors across Asia, Europe, the Americas, and some African countries.
