Zanzibar President Dr. Hussein Mwinyi is now attracting more investments in the Island, to implement his government’s envisaged Blue Economy through high-end investors.
Dr. Mwinyi said the Zanzibar government intends to further promote investments by including the leasing of small islands to high-end Investors.
Zanzibar had adopted the Blue Economy policy targeting the development of marine resources. Beach and heritage tourism is part of the envisaged Blue Economy policy.
“We are focusing on preserving the Stone Town and other heritage sites to attract more tourists. This move will be in line with improving sports tourism, including golfing, conference, and exhibition tourism,” Dr. Mwinyi said.
Zanzibar government had intended to increase numbers of tourists from the 500,000 recorded before the Covid-19 pandemic to one million this year, he said.
Zanzibar government had leased at least nine small islands to high-end strategic investors late in December 2021 then gained US dollars 261.5 million through lease acquisition costs.
Through Zanzibar Investment Promotion Authority (ZIPA), the islands have been leased to potential Investors under long-term agreements.
ZIPA Executive Director, Mr. Shariff Ali Shariff said more islands were open for lease or rent to high-end investors.
The leased islands are intended to boost then improve investments in the island, mostly the construction of tourist hotels and coral parks.
Zanzibar has about 53 small islands earmarked for tourism development and other marine-based investments.
Focusing to become a business hub in the Indian Ocean’s Eastern Rim, Zanzibar is now targeting to tap services industry and marine resources to achieve its envisaged Blue Economy.
He added that the government had also put in place mandatory terms for all investors, including hiring locals, environmental conservation, and setting aside specific areas for locals to continue with their economic activities.
Zanzibar is the best destination for boat rides, snorkeling, swimming with dolphins, horseback riding, paddling board at sunset, visiting the mangrove forest, kayaking, deep-sea fishing, shopping, among other leisure activities.