Zanzibar offers Qatari investors a host of investment opportunities in tourism
QATAR Chamber hosted on Monday Dr Hussein Ali Mwinyi, President of Zanzibar at the United Republic of Tanzania, and his accompanying delegation at the Chamber’s venue.
The meeting was attended by QC First Vice-Chairman Mohamed bi Twar Al Kuwari and board member Mohamed bin Ahmed Al Obaidli.
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, Dr Hussein Ali Mwinyi praised the close relations between Qatar and his country, noting 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 a number of 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 also 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.
On his part, ZIPA’s CEO Shariff Shariff and Executive Director of Tanzania Investment Centre Gilead Teri reviewed the incentive investment in Tanzania in general and in Zanzibar in particular, and the investment incentives in Tanzania in general and Zanzibar in particular, the available investment opportunities, and the exemptions and facilities granted to investors.