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Saturday, April 11, 2015

Zanzibar woos more Indian investors

Second Vice- President, Amb. Seif Ali Iddi
THE Zanzibar government has welcomed Indian investors whose operations would add value to the Island’s economy and create employment opportunities to its people, mainly jobless youth.

The Second Vice- President (2VP) Ambassador Seif Ali Iddi made the statement here during a meeting with the Consular General of India in the island, Mr Satender Kumar, saying Zanzibar now has many business opportunities with improved infrastructure.

The 2VP said; “The environment is good for the establishment of light industries, which apart from improving Zanzibar export earnings, will help to reduce unemployment in the country, as many graduates from colleges are without jobs.”

Mr Iddi recalled that investors from India had started to invest in Zanzibar in 1980s, but later the investments slowed, “It is high time Indian investors return to Zanzibar. We need Indian manufacturers,” he noted. He thanked India for its ongoing development support in various sectors, adding that Zanzibar still needs vigorous support in education, Information Communication Technology (ICT) and skill building.

He said the skills and technology are prerequisite to Zanzibar efforts in improving agriculture particularly rice irrigation farming, to increase production of the islands’ staple food. India’s support may increase rice production to at least meet 50 per cent of the demand.

It is estimated that 80 per cent of Zanzibar’s rice demand is imported from abroad, while home production is less than 30 per cent.

Ambassador Kumar promised continued support to Tanzania including Zanzibar, saying that already India- Tanzania relation include education, health, ICT and entrepreneurship development.

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