ZANZIBAR, Sept 1 (NNN-DAILYNEWS) — ZANZIBAR and Qatar have signed a Memorandum of Understanding (MoU) for the implementation of strategic economic projects worth 10 billion US dollar (about 25tri/- ) across various sectors.
President Hussein Mwinyi, who is also the Chairman of the Revolutionary Council, witnessed the signing ceremony held at State House.
The agreement was signed on behalf of the government of Zanzibar by Khamis Mwalimu Suleiman, Permanent Secretary in the President’s Office (Labour, Economy and Investment), while Sheikh Mohammed bin Mansour bin Jabor bin Jassim Al Thani, a member of Qatar’s royal family and owner of the investing company, signed for the Qatari side.
Speaking during the event, President Mwinyi expressed his gratitude to Qatar for showing genuine commitment to partner with Zanzibar in implementing strategic projects that require major investment.
He outlined the projects to include oil storage facilities, construction of modern conference centres, port development, tourism, the Blue Economy and renewable energy.
Dr Mwinyi said he was encouraged to see that the projects had attracted investors with both the commitment and strong financial capacity to deliver substantial foreign direct investment.
“The government is wellprepared for the swift implementation of these projects, which will strengthen longterm cooperation between Zanzibar and Qatar,” he stressed.
President Mwinyi described the MoU as a milestone in efforts to boost Zanzibar’s economy, noting that the partnership would open doors for accelerated growth and sustainable development.
“Indeed, this agreement covers many critical sectors, especially our priority areas such as the blue economy and energy,” he added.
The President expressed confidence in the partnership, describing it as a major step towards attracting substantial foreign direct investment to fast-track Zanzibar’s development agenda.
He stressed, however, that the signing marked only the beginning, with technical teams from both sides tasked with moving swiftly into the implementation phase.
On his part, Minister of State in the President’s Office (Labour, Economy and Investment), Sharif Ali Sharif, said the agreements further demonstrate President Mwinyi’s commitment to unlocking Zanzibar’s economic potential and accelerating development. — NNN-DAILYNEWS
