TANZANIA AT 60: Dr Mwinyi credits  economic growth

TANZANIA AT 60: Dr Mwinyi credits economic growth

ZANZIBAR President Hussein Mwinyi has said despite notable achievements recorded in the past 60 years since Tanganyika attained independence, there is a need to evaluate development strategies with the aim of attracting more investors.

In his remarks at the opening of the 60 years of independence- Investment forum’ held here yesterday, Dr Mwinyi said different reforms undertaken from 1990s to date in laws and policies related to investment have enabled the Mainland and Zanzibar move a step forward economically.

“In 60 years of independence there has been challenges and successes attained in execution of plans aimed at building the country’s economy including improving investment climate,” Mwinyi said.

He said enactment of various laws in Mainland and Zanzibar and improvements of some of the laws focused at protecting investment and attracting investors.

“The reforms led to the formation of the Tanzania Investment Centre (TIC) in Mainland and the Zanzibar Investment Promotion Agency (ZIPA) which has been doing a good job in improving investment environment in isles, including acquiring permit within a short time following the establishment of one-stop-centre,” he said.

He informed participants of the one-Day forum which included a considerable number of investors from Egypt and China that the ongoing reforms to clear all impediments and delays to investors, also focus at attracting more investors in areas of agriculture, mining, tourism, and other industries.

Dr Mwinyi further said that there is a lot to celebrate in the 60 years of Tanganyika independence in all areas of development including strengthening of the Union, peace and security, and accountability.

He pledged that both governments in Mainland and Zanzibar are fully committed, in ensuring better and conducive environment for all investors.

Ministers responsible for investment: Mr Geoffrey Mwambe (Mainland) and Mr Mudrick Ramadhan Soraga (Zanzibar) emphasised that a lot has been done in improving the investment climate.

On their part, Mr Ahmad El Sewedy from El Sewedy Group of Egypt, and Mr Janson Huang from Chinese Chamber of Commerce, had similar message of praise to both President Mwinyi and his union counterpart, Mama Samia Suluhu Hassan for improving investment environment in the country.

As leaders of the foreign investors from Egypt and China, he said they have already begun setting projects in Mainland and promised to find opportunities in Zanzibar and that they hope the ongoing improvement in policies and regulations will continue.

Earlier, different companies and institutions made presentations on the available investment opportunities in Zanzibar including blue economy, and their performance in services and business.

Mr Francis Majige Nanai from Tanzania Private Sector Foundation and Mr Hamad Hamad from the Zanzibar National Chamber of Commerce (ZNCC) thanked both the government for engaging the private sector in development plans and promoting partnership.

However, Hamad prayed to higher authorities to remove the existing non-tariff barriers that obstruct trade between Zanzibar and Mainland, saying “We have every reason to celebrate the 60 years, but we need smooth trade by ensuring all obstacles are removed.”

Other invited guests at the opening of the Forum were political leaders, academicians and the retired Zanzibar President Dr Amani Karume who highly praised Dr Mwinyi and Mama Samia for taking Tanzania in the right direction as far as investment is concerned.


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