Why invest in Zanzibar
Zanzibar is located in east Africa, an Indian ocean archipelago that is
fast becoming a magnet for investment with immense potential. Its strategic
location makes Zanzibar ideal as a hub for Africa mainland and the Middle East. Zanzibar offers several advantages that make
it stand out in Africa.
Stability and Low Risk Environment
Zanzibar is an autonomous partner in the united republic of Tanzania,
which was created when Zanzibar and Tanganyika merged in 1964. The union
government is responsible for foreign policy, defence, and finance while the
constituent governments are responsible for everything else, thus investors in Zanzibar
enjoy protection accorded by local laws backed by political stability and
sustained economic growth of 55 years of independence. Zanzibar offers splendid
cosmopolitan culture in the melting pot of stone town where local Africans, Arabs,
Indians, Persians and Europeans melded for centuries. Intermarriages between
the local bantu people and foreigners gave rise to the famous Swahili people
Zanzibaris are highly aristocratic people, heart-warming, humble and
hospitable, making it a pleasure for visitors to interact with them. Most
visitors feel so at home they do not return home.
Zanzibar has traded with the world at large to as far as India and
beyond for millennia. This was due to its strategic importance with access to
vital trade routes. The route to Yemen
and the middle east lies northward; the far east and Asia lie eastward; Madagascar,
Mozambique, Comoros, and south Africa lie southward, and the African mainland
to the west. Given the history of trade,
the name Zanzibar has acquired an exotic and mystical value and people around
the globe wish to visit Zanzibar to explore its splendid history , giving rise
to the tourism industry in the early 90s.
Zanzibar's economy is headed for a massive expansion with
the coming on board of the oil and gas exploration sector. The discovery of
offshore oil reserves will certainly create a demand for supporting services.
Safeguarding of Investment
Zanzibar has ring-fenced investments to ensure that
investments are well-protected from any foreseeable and unforeseeable obstacles
that many investors face when investing abroad.
A number of measures have been put into practice to mitigate against
such a downside; the current law protects foreign investments, and Zanzibar
honours international Conventions. As a partner in the Constitution of Tanzania
it is an active
Member of Multilateral Investment Guarantee
Agency of the World Bank. Also, Tanzania is a signatory to the Convention of
Recognition and Enforcement Arbitration Awards and a member of International
Centre for Settlement of Investment Disputes (ICSID) and African Trade Insurance
Incentives for Strategic Investment
Strategic investment and Projects worth $500,000 are entitled the following: Click here
Investment Opportunities in Number of industries click here
BE REMINDED: ZANZIBAR LAW AND TANZANIA MAINLAND LAW ARE DIFFERENT (IF YOU WANT TANZANIA MAINLAND INVESTMENT GUIDE AND INFO CLICK HERE ).
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