The strategic anchor of the pace of initiatives is a Blue Economy centerpiece whose outreach on potential stakeholders includes the Omani Diaspora and its immediate neighbours, while to a certain extent the Union authorities are also involved.
Plenty remains to be set out in the latter aspect but the groundwork projects are being initiated to take off in a few years.
Zanzibar has lately signed a memorandum of understanding with a Spanish company Tangen & Intertorco Group, covering a feasibility study and the construction of a joint fishing port at Mpigaduri on Unguja Island, a port at Mkoani on Pemba Island and power generation from natural gas.
President Mwinyi said after the signing that he was pleased with the big project that incorporates Unguja and Pemba fishing ports that will feature seven berths for fishing vessels – five at Mpigaduri and two at Mkoani.
It is also an act of integration when the two islands conduct a series of economic activities together rather than living far apart.
The project involves the purchasing of fishing vessels for deep-sea fishing and a floating barge for construction and repairs of fishing vessels for small fishermen, along with a factory for making fishing gear, including nets.
That means that the specific types of fishnets needed and indeed the pricing will be within the reach of ordinary fishermen, when their manufacturing is embedded into a turn-key project.
Along with a fish processing factory, a fertiliser plant to use fish remains as raw materials are included in the project.
Also included are an international fish auction mart, rooms for cold storage of fish, and a fishing industry training centre.
The Zanzibar leader noted that when the projects are implemented, the Isles will register more rapid economic growth in that the projects involve the government collaborating with 12 firms from Norway, Spain, Germany, South Korea and the United States
All this is far from coincidental or arising just from new ideas of the current authorities, but part of Africa emerging as a market to be reckoned with.
While Dr Mwinyi renewed his appeal to potential investors to put their feet into Zanzibar as there are many project openings especially in relation to the Blue Economy strategy, something more can be said.
The fact of the participating companies being drawn from a scatter of countries from the US to Europe and the Far East stands testimony that there is a favourable climate for investments, and thus more companies will be drawn into the fold.
We could also note what a top Tangen & Intertorco Group official said, which is that Zanzibar is an integral part of a Tanzania continuing to attract investors from the world’s various sources of venture capital.
This effort at attracting foreign investors into projects with evident relevance in the sub-regional, continental and international markets ought to be applauded and encouraged the best way possible.
_0.jpg?itok=QU87XW8D){kind=tracking}
.jpeg?itok=vCj6bCRe)
