ZANZIBAR, Feb 17 (NNN-DAILYNEWS) — ZANZIBAR Minister of State – President’s Office (Labour, Economy and Investments), Sharif Ali Sharif has appealed to Italian business leaders and investors to explore investment opportunities in the Isles.
He noted the Isles’ strategic location, investor-friendly policies and growing economic opportunities as some of the reason why investors should opt for Zanzibar.
Speaking at the Zanzibar-Italy Bilateral Business Meeting (B2B) held under the theme “Promoting Private Partnerships and Enhancing Trade and Investment,” Sharif underlined the government’s commitment to creating a business-friendly environment by improving ease of doing business, enhancing infrastructure and implementing policies to attract investors.
He acknowledged Italy’s long-standing role as a key partner in Zanzibar’s development, particularly in sectors such as tourism, infrastructure, the blue economy and agroprocessing.
“I appreciate Italy’s dedication to strengthening our bilateral relations. This meeting provides an excellent opportunity to deepen these ties by fostering direct business-tobusiness (B2B) engagements, encouraging investment and enhancing collaboration between the private sectors of both regions,” Sharif said.
He urged participants to actively engage, exchange ideas and explore areas of mutual benefit, stressing that such collaborations would drive economic growth, create jobs and enhance prosperity for both Zanzibar and Italy.
The Executive Director of the Zanzibar Investment Promotion Authority (ZIPA), Saleh Saad Mohamed, welcomed the Italian delegation at a crucial moment when Zanzibar is implementing transformative initiatives as part of its Zanzibar Development Vision 2050.
“As part of this vision, we aim to diversify our economy, enhance our global competitiveness and position Zanzibar as a hub for sustainable and innovative investments,” Mohamed explained.
He noted the strong historical ties between Zanzibar and Italy and the importance of building on this relationship to explore new investment opportunities.
“The presence of the Italian delegation demonstrates strong interest in Zanzibar’s investment potential across key sectors, including tourism, the blue economy, infrastructure, agriculture, renewable energy and technology,” Mohamed said.
He assured that ZIPA remains committed to facilitating foreign investments by providing a one-stop centre for business registration, investment guidance and continuous support for investors.
So far, ZIPA has registered 102 investment projects from Italy, valued at over 1.1 billion US dollars (about 2.8tri/-), which have created 6,397 direct jobs for local people.
Mohamed encouraged Italian investors to use this visit as an opportunity to engage with local stakeholders, explore Zanzibar’s unique investment opportunities and experience firsthand the entrepreneurial spirit of its people.
“I assure you of our unwavering commitment to supporting your business ventures and fostering a partnership built on trust, innovation and shared prosperity,” he affirmed.
The event was also attended by Italy’s Ambassador to Tanzania, Giuseppe Coppola and the Italian Trade Agency’s Trade Commissioner, Claudio Pasqualucci, further emphasising Italy’s strong interest in deepening economic ties with Zanzibar. — NNN-DAILYNEWS