Zanzibar President offers investment opportunities to Qatari investors

The President of Zanzibar Dr. Hussein Ali Mwinyi called on Qatari investors to benefit from the investment opportunities in the tourism, real estate, and energy sectors in Zanzibar.

This came in a meeting with QC First Vice-Chairman Mohamed bin Twar Al Kuwari.

The meeting discussed the bilateral relations between both sides in the commercial and economic fields and the means to enhance them, in addition to the investment climate and opportunities available in both countries and ways to develop the trade exchange.

On his part, HE Dr. Hussein Ali Mwinyi said that Zanzibar achieved significant development in attracting and safeguarding sustainable investments and that there are a host of opportunities in various sectors like infrastructure real estate, tourism, hospitality, agriculture, industry, and energy.

Mwinyi reviewed the strategic location of Zanzibar next to several economic blocs such as the Southern African Development Community (SADC), the East African Community (EAC) and the African Continental Free Trade Area (AFCFTA), affirming that these blocs offer huge markets for investors.

The Zanzibar President also pointed out his accompanying delegation includes officials from various economic authorities in Tanzania and Zanzibar, in particular, such as the Zanzibar Investment Promotion Authority (ZIPA) and Tanzania Investment Centre, calling on Qatari businessmen to invest in Zanzibar, which offers feasible opportunities, especially in the real estate, tourism and hospitality sectors.

Zanzibar is interested in developing conference tourism, especially with the presence of attractive tourist resorts, as well as its interest in heritage, he added.

For his part, Mohamed bin Twar Al Kuwari lauded the strong relations between Qatar and Tanzania, noting that their trade exchange amounted to QR 317 million last year compared with QR 282 million in 2021, an increase of 12 percent.

He said that Zanzibar is an important tourism destination, stressing that the time is appropriate to explore the investment opportunities to strengthen cooperation between both parties and that Qatar Chamber supports this cooperation and is prepared to host a seminar to highlight the opportunities available in Zanzibar among Qatari investors.

Source: Qatar News Agency