Mwinyi pledges continuous infrastructure reforms

ZANZIBAR: ZANZIBAR President Dr Hussein Mwinyi has assured the public that his government will continue to carry out major infrastructure reforms to attract more investors.

Dr Mwinyi expressed the commitment at the Zanzibar State House during a meeting with President of Samsung C&T, a South Korea-based company specializing in construction and business who led his delegation to the Isles.

He informed the delegation that Zanzibar offers numerous investment opportunities, extending an invitation, particularly to the private sector to invest in the Isles.

Dr Mwinyi highlighted key sectors prioritised by the government for investment, including tourism, the blue economy, fisheries, transport and oil and gas.

He said Zanzibar has designated the Mangapwani Port area in North Unguja, specifically for large-scale investment and advised the delegation to consider the possibility of investing in fishing and seafood processing industries.

Dr Mwinyi commended Samsung C&T for its initiative to cooperate with African countries particularly in Sub Saharan Africa in various investment sectors as well as establishing an office in Tanzania.

Commenting on oil and gas sector, Dr Mwinyi informed the delegation that Zanzibar government has taken various steps in the area, including the allocation of blocks for exploration and extraction of oil and gas.

On tourism, he said Zanzibar has more than 600 hotels, a positive development that requires the Isles to have reliable electricity to promote investment growth.

He advised the delegation to look into possibilities of investing in alternative energy sources, including solar and wind energy.

Meanwhile, Dr Mwinyi agreed to the delegation’s request to establish a joint team of experts between government representatives and Samsung C&T to monitor, assess and identify areas of collaboration.

Additionally, he assured the investors that the government will provide full support and open new avenues for investment.

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For his part, Samsung C&T President Oh SeChul informed Dr Mwinyi that in efforts to broaden the company’s investment scope, it has decided to come to Africa, with Tanzania being a priority for their investments, as well as opening their office in the country.

He stated that their company has extensive experience in investments, particularly in technology projects and infrastructure development and that they now intend to come to Zanzibar to explore areas of collaboration with the government.

Samsung C&T is the mother company of the Samsung Group of companies in South Korea, founded in 1938. It has since spawned other Samsung companies, including those in electronics and mobile phones, such as Samsung E&C, Samsung Resorts and Samsung Fashion Group, among others.

In 1995, the company focused more on large-scale construction and engineering projects worldwide, as well as business and investment, beauty services and the development of prestigious five-star hotels.