Habari za Punde

We Have Liberated Ourselves From The Political Crisis In Order To Advance The Economy - Dk Mwinyi

Eastern Africa’s Zanzibar is transforming from the largest slave trade center in the world into the largest African center for economic tourism with it accounting for about 30% of GDP.

President Hussein Mwinyi confirmed that Zanzibar’s political parties have abandoned their differences to maximize economic and food security and accelerate the infusion of foreign and domestic investments, so that the commercial focus of the Middle East remains in Africa.

In an interview with Asharq Al-Awsat, Mwinyi said that “Zanzibar has become politically stable, which created an environment for development, investment, social and economic prosperity, and transformed political momentum into economic momentum.”

The president, however, stressed that the biggest challenge facing Zanzibar’s economy is the weakness of its basic infrastructure sector.

Mwinyi called on Saudi businessmen to invest in the opportunities offered by his country.

Moreover, Mwinyi stressed the importance of strengthening trade, economic and investment relations between Zanzibar and Saudi Arabia, and urged taking advantage of commercial opportunities created by the latter’s plan for national transformation, “Vision 2030.”

Speaking about the level of trade exchange, Mwinyi stressed that relations between Saudi Arabia and Tanzania are long-term and of mutual benefit.

Zanzibar is a semi-autonomous province which united with Tanganyika in 1964 to form the United Republic of Tanzania.

Tourism Cooperation

“Tanzania is a tourist destination,” affirmed Mwinyi, adding that “tourism continues to play a major role in its economy.”

“When we were invited to Saudi Arabia to participate in the recent travel and tourism summit in Riyadh, we were happy to be here in order to learn from this industry,” said Mwinyi, who participated in the 22nd World Travel & Tourism Council Global Summit (WTTC's) in Riyadh.

“I believe that my participation in the recent summit in Riyadh was a great opportunity to meet with some Saudi officials to discuss some related issues and ways to enhance cooperation in all fields,” the president told Asharq Al-Awsat.

“I also had the opportunity to meet with the Federation of Saudi Chambers and business sector officials. We raised our requirements for investment in Tanzania as well as in various sectors,” said Mwinyi.

He pointed out that his country is a tourist destination, especially Zanzibar, where tourism contributes about 30% of the GDP.

Mwinyi added that his country is in a state of continuous research to improve its tourism industry.

Investment Opportunities

“There are wide areas of cooperation between Saudi Arabia and Tanzania in general, and with Zanzibar in particular. Therefore, we are looking for Saudi investments in Tanzania, whether governmental or private,” revealed Mwinyi.

“We have many areas where we need foreign direct investment, whether in infrastructure development, tourism, or social services such as hospitals and schools,” said Mwinyi.

Mwinyi explained that possible areas of bilateral cooperation include energy, water systems, roads, infrastructure, airports, and seaports.

Additionally, the president said he had held “good” discussions with Ahmed Al-Khateeb, the Saudi Minister of Tourism.

“Zanzibar depends a lot on tourism. So, when the coronavirus pandemic hit, it greatly affected our economy,” explained Mwinyi.

“Currently we are witnessing the return of the tourism sector to pre-pandemic numbers,” he revealed.

Business Relations

According to the latest official data, the volume of trade between Saudi Arabia and Zanzibar during the past five years amounted to approximately SAR 15.9 billion ($4.2 billion), while it reached SAR 2.8 billion ($746 million) in the first half of 2022.

It had achieved SAR 4.7 billion ($1.2 billion) in 2021 and SAR 1.5 billion ($400 million) in 2020, an increase of 216% in 2021 compared to 2020.

Shift to Economic Momentum

“Zanzibar needs proper infrastructure to attract capital and investment. So, this is the biggest challenge. But I must say that economically and politically, we are a stable country,” said Mwinyi.

“We had political issues in the past, but we decided to sit down and sort out our differences.”

“Now that we are politically stable, we hope that this will create an environment for investment and social and economic prosperity.”

“One of the most important areas we are working on is attracting capital and foreign direct investment,” said Mwinyi regarding his government's plan to face the challenges ahead.

“We talked with many countries and private sectors to bring capital to Zanzibar,” revealed the president, adding that “there are a lot of investments happening, especially in the tourism field.”

“We are also working to develop the infrastructure,” he affirmed.

“We now have the private sector investing in our seaports and airports and building roads and water systems, especially in the energy sector.”

No comments:

Post a Comment

ZanziNews Copyright © 2014

Theme images by Bim. Powered by Blogger.