BY ISSA YUSSUF, 4 JANUARY 2014
Zanzibar — UKRAINE'S ALTEC has shown interest to invest in Zanzibar as potential place for its business in the East African region, the Second Vice-President, Ambassador Seif Ali Iddi has said.
The visiting delegation led by Dr Ramzan Musipov revealed that they were interested in massive investment in Zanzibar during audience with the Second Vice-President, Ambassador Seif Ali Iddi.
"We plan to start business in Zanzibar," said Ramzan, executive director of ALTEC. According to the second vice-president's press man Mr Othman Ame, ALTEC officers' visit to Zanzibar follows Iddi's recent visit to the Dubai.
When the second vicepresident was in Dubai, he met several investors wooed them to come and invest in Zanzibar, "ALTEC has responded to the call and its planning to invest in the islands," he said.
Othman said that ALTEC has already set-aside USD 10 billion for Zanzibar focusing to invest in Oil & Gas, sea Port, and airport services. ALTEC is a renowned global company providing products and services in industries, seaport, airport, and contractor markets.
It delivers products and services in more than 100 countries throughout the world. Ambassador Seif said that Zanzibar was now determined to expand its port by constructing a new port, and foreign investors are welcomed to use the available opportunity. He said the target is to improve economy alongside job creation.
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