Tanzania: Zanzibar Attracts 700 Investment Projects

Zanzibar — ZANZIBAR has attracted 700 investment projects, which have injected into the economy 7 billion US dollars (over 16tri/-) capital, creating 70,000 jobs, the House of Representatives heard here on Tuesday.

Minister of State in the President's Office, Labour, Economy and Investment Mudrik Ramadhan Soraga said over 60 per cent of the projects are in the tourism sector.

Answering a question by Nominated Representative Dr Saada Mkuya Salum, who wanted to know the government strategies to ensure investments benefit the country, the minister described the investments as highly beneficial to the country.

He said the government is determined to improve investment supportive infrastructure to attract more tax paying domestic and foreign investors.

Minister Soraga cited the introduction of one-stop-centre for investors, review of investment policies and laws, as well as public awareness campaigns as among the tactics, which the government is using to improve investment climate.

"We are equally building the institutional capacity to offer quality and sustainable services to investors...we are as well building the capacity of youth to grab various job opportunities," the minister told the house.

He said the government remains determined to create 300,000 jobs for Zanzibaris by 2025 through various sources, including domestic and foreign investments.

He reminded existing and potential investors to give priority to Zanzibaris in recruitment as per the country's laws on investment.

Under the legislation, investors have a ceiling in the recruitment of foreigners especially in key positions, subject to the size of the project.

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