The President of Zanzibar and Chairman of the Revolutionary Council, H.E. Dr. Hussein Ali Mwinyi, has invited South Korean investors to invest in various economic sectors in Zanzibar. He further encouraged them to collaborate with local business people to increase capital, introduce new technologies, and expand trade.
President Dr. Mwinyi made these remarks on October 30, 2026, during a dinner hosted by the Embassy of Tanzania in the Republic of Korea (South Korea) at the Grand Hyatt Hotel in Seoul. The event was aimed at strengthening trade and investment cooperation between Tanzania and South Korea.
He noted that Zanzibar offers numerous investment opportunities—particularly in the Blue Economy, tourism, ports, transportation, and industries focused on adding value to agricultural produce—all of which have been prioritized under the Zanzibar Development Vision 2050.
Dr. Mwinyi stated that the Government continues to improve the investment climate by implementing laws and regulations that safeguard the interests of investors. Additionally, the Government is enhancing the services provided by the Zanzibar Investment Promotion Authority (ZIPA) to streamline the establishment and operation of investment projects in the country. He added that Zanzibar is well-positioned to become a hub for trade and investment, thanks to its strategic location—which connects the markets of East and Southern Africa—and the opportunities presented by the African Continental Free Trade Area.
President Dr. Mwinyi encouraged South Korean businesspeople and investors to form joint ventures with Zanzibari companies, explaining that such partnerships would combine expertise, technology, and capital from South Korea with the opportunities available in Zanzibar, to the mutual benefit of both sides.
The event was attended by representatives of the South Korean government, diplomats, leaders of financial institutions, and businesspeople and investors from various sectors.
President Dr. Mwinyi has concluded his visit to South Korea, which included investment and trade meetings in Seoul, visits to industrial sites and projects in Yeosu, participation in the ITOP Forum on Jeju Island, and discussions with Korean companies regarding opportunities for strategic projects in Zanzibar.
