Zanzibar — Zanzibar President and Chairman of the Revolutionary Council, Dr Hussein Mwinyi, has highlighted Zanzibar's potential to benefit from Indonesia's expertise in various sectors, including agriculture, seaweed farming, oil and gas extraction, tourism and port development, particularly within the Blue Economy framework.
Dr Mwinyi made the remarks during the opening of the Zanzibar Indonesia Investment Forum 2024, organised by the Zanzibar Investment Promotion Authority (ZIPA) in Bali, Indonesia yesterday.
He expressed satisfaction with the strong turnout of investors interested in investing in Tanzania, including Zanzibar and anticipates significant interest from Indonesian investors, especially in the Blue Economy sector.
The forum brought together senior officials from both Zanzibar and the Union government, as well as representatives from Indonesia.
Notable attendees included the Minister of State in the President's Office for Labour, Economy and Investment Zanzibar, Mr Sharif Ali Sharif; Indonesia's Deputy Minister for Foreign Affairs, Mr Pahala Mansury; Tanzania's Minister for Minerals, Mr Anthony Mavunde; and Tanzania's Ambassador to Indonesia, Mr Makocha Tembele, alongside various business leaders and investors.
The forum aims to enhance economic cooperation through the Blue Economy sector, focusing on tourism, port development, oil and gas, maritime transport, fishing and seaweed processing.
Dr Mwinyi arrived in Bali on Saturday, to represent Union President Dr Samia Suluhu Hassan at the Second Indonesia-Africa Forum (IAF), which began yesterday and concludes tomorrow.
Dr Mwinyi was accompanied by his wife and a delegation of senior officials from both Zanzibar and the Union governments, parastatals and the private sector.
He will join other heads of state from Zimbabwe, Rwanda, Ghana, Liberia and Eswatini. According to a press release from the Zanzibar State House, after the IAF concludes, Dr Mwinyi will travel to Jakarta for a two-day working visit starting on Wednesday.
During the visit, the Tanzanian delegation will also attend the High-Level Forum on Multi-Stakeholder Partnerships (HLF MSP), held concurrently with the IAF. The IAF and HLF MSP are expected to generate agreements worth up to US$3.5 billion.
The IAF will attract around 855 participants, while the HLF MSP, organised by the Indonesian Ministry of Foreign Affairs and the National Development Planning Agency (Bappenas), is expected to involve up to 1,500 participants, including delegates from African countries and other Global South nations.
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Tanzanian institutions such as the Zanzibar Investment Promotion Authority (ZIPA), Tanzania Investment Centre (TIC), Tanzania Private Sector Foundation (TPSF) and Tanzania Chamber of Commerce, Industry & Agriculture (TCCIA) will present at the HLF MSP, discussing various business and investment opportunities in Tanzania.
Additionally, marking 60 years of diplomatic relations between Tanzania and Indonesia, senior officials from both countries will engage in various events to strengthen historical and diplomatic ties.
MoUs will be signed between Indonesian entities and Tanzanian organisations, including the Tanzania Medicines and Medical Devices Authority (TMDA) and the Indonesian National Agency of Drug and Food Control (BPOM).
Other MoUs involving Tanzania Investment Centre (TIC), Tanzania Fertiliser Regulatory Authority (TFRA) and Petroleum Development Corporation (TPDC) with Indonesian companies will also be announced during the vis
