Conducive Business Environment to Investors
H.E Dr. Mwinyi assures conducive business environment to investors
In the inauguration ceremony of 10th House of Representative held on 11 November 2020, H.E Dr. Hussein Ali Mwinyi, the President of Zanzibar and Chairman of the Revolutionary Council assured investors and Diaspora community conducive environment for investment and business operations. Addressing the nation Dr. Mwinyi also said the Eighth Phase Government shall continue working with various companies and Diaspora community having good intentions to invest in the country, specifically in the priority sectors. Expressing the Government plan on infrastructure development the President said a big modern port shall be constructed at Mangapwani in Unguja with a number of service points that include Oil and Gas services, Dry dock facilities, Cargo and containers terminal, fishing port as well as service port for tourist ships. In addition, Mkoani and other ports shall be improved to serve large foreign ships. In the same positive note the Government shall expand road networks to cover most investment areas in the country. The President also reminded Member of House of Representatives his biggest promises to the Zanzibar people outlined in the Election Manifesto of Chama Cha Mapinduzi (CCM) which is to develop a vibrant and inclusive Blue Economy in Zanzibar. He further expressed that Blue or Maritime Economy should link deep sea fishing, fish farming, construction of fish factories, sea weed farming, oil and gas extraction, efficient use of various marine resources as well as beach tourism activities and marine sports. He further emphasis the involvement of Private sectors in the development of the Blue economy by saying "I firmly believe that the existence of amicable collaboration and harmonious relationship between the Government and investors is instrumental in our efforts to promote investment and develop a vibrant and inclusive blue economy in Zanzibar”
Other sectors that H.E Dr. Mwinyi highlighted were financial services, light manufacturing, modern agriculture, livestock farming, tourism and infrastructure development. Considering the location advantage, the President said his Government shall consider pronouncing the Pemba Island as a strategic investment area and providing special incentives to investors who wish to invest in Pemba. As for the oil and gas sector, President Dr. Mwinyi said that the Eighth Phase Government will strengthen and build the professional capacity and workforce of the Zanzibar Petroleum Company (ZPDC) and the Petroleum and Gas Regulatory Authority (ZPRA) so that they can lead this important sector.