Zanzibar President offers investment opportunities to Qatari investors
PHOTO | COURTESY OF THE PENNINSULA
Doha. Zanzibar’s President Hussein Mwinyi has called on Qatari investors to take up investment opportunities in the tourism, real estate, and energy sectors in Zanzibar, media in the Gulf state has reported.
During the meeting QC First Vice-Chairman Mohamed bin Twar Al Kuwari the two parties discussed the bilateral relations 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, President Mwinyi said that Zanzibar has 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 said 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.
He also pointed out that his delegation includes officials from various economic authorities in Tanzania and Zanzibar, in particular 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.
