Zanzibar Ties Economic Knot With Oman For $500million
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Roshan Amiri
- . October 15, 2022
- . Update: October 16, 2022 6:16 pm
Zanzibar has signed three agreements with Omani companies that has taken their investments to over $500 million helping them enter ‘ventures that have tied up historical ties’, as in the words of President Hussein Ali Mwinyi.
In a three-day visit, Mr. Mwinyi gave the message of peace and friendship while addressing the various governmental officials and local business directors before signing the agreement in Muscat.
“The ventures will also bring the two countries closer together to work in areas of common concerns. Zanzibar and Oman used the trade winds to do businesses and now we are embarking on new technologies to do the same in modern times,” said the President.
“Zanzibar and Oman used the trade winds to do businesses and now we are embarking on new technologies to do the same in modern times.”
The agreements included establishing a knowledge transfer centre, a digital infrastructure platform and the setting up of a data park to store both private and public information to facilitate joint business ventures.
Mr Mwinyi also urged delegates to start talks on tourism ventures between the two countries and promised to create a “fruitful environment” for investors in the sector.
Investment experts say the agreements will be “fast-tracked” with both sides keen to get the projects going as soon as possible. The fact that Zanzibar has huge tourist value, this is another reason why Oman has felt the need to invest in them. The associations between both countries goes back to the 19th century. Zanzibar was part of Oman’s overseas territory in the 19th century when dhows regularly sailed the Indian Ocean to establish a thriving trade between Asia and East Africa.
