The President of Zanzibar and Chairman of the Revolutionary Council, Hon. Dr. Hussein Ali Mwinyi, has said that Zanzibar has entered a new stage of economic reforms aimed at strengthening competitiveness in the international market by expanding investment opportunities, strengthening the broad base of the economy and creating a friendly environment that will enable sustainable growth and welfare of the people.
President Dr. Mwinyi said this on June 04, 2026, when he opened the Zanzibar Investment Forum 2026 at the Golden Tulip Hotel, Airport, Mjini Magharibi Region, which involves investors from various countries around the world.
Dr. Mwinyi said that an economy that relies on only one sector is at risk of being shaken by external changes, including global market trends, consumer demand, commodity prices and challenges emerging in international systems.
He said that the strength of Zanzibar’s economy should be built by expanding the scope of production, increasing investment opportunities and strengthening various sectors so that the economy is balanced, competitive and has broad benefits for the people.
He said Zanzibar continues to implement economic reforms through a clear vision of sustainable change, opening doors to investors and strengthening the investment environment.
He said the Government has invested significantly in infrastructure including roads, airports, ports, electricity generation, tourism development and public services, in parallel with carrying out institutional reforms aimed at strengthening the investment sector.
President Dr. Mwinyi said investor confidence is not built on infrastructure development alone, but also depends on the existence of security, stability, a predictable business environment and effective rule of law.
He said the Government continues to strengthen digital systems, improve land management, reduce bureaucracy, increase transparency and remove unnecessary barriers to facilitate investment and make Zanzibar a more competitive country in the international market.
Dr. Mwinyi said the tourism sector will continue to remain among the key priority sectors in growing the Zanzibar economy, in parallel with developing the blue economy, industries, digital services, clean energy, agricultural processing and other sectors with the potential to add value, employment and competitiveness in the regional and international market.
President Dr. Mwinyi said that more than 800 investment projects worth over US$9 billion are being implemented in Zanzibar, while ZIPA continues to simplify key investment services through a single system to reduce bureaucracy and increase efficiency in starting a business.
President Dr. Mwinyi said Zanzibar offers opportunities for foreign investors to own 100% of a company and register their businesses without having to enter into partnerships with locals, as well as transfer business profits abroad.
He said that this move demonstrates the Government’s commitment to creating a friendly, safe and competitive environment for international investors.
He added that Zanzibar’s economy has grown by 7.3%, with inflation controlled at approximately 4.1%, a situation that shows the strengthening of various sectors as well as good economic management.
Soon after arriving at the conference venue, President Dr. Mwinyi visited the exhibition of investment institutions and traders held on the sidelines of the Zanzibar Investment Forum 2026, where he saw various products, services and investment opportunities from within and outside the country.
President Dr. Mwinyi witnessed the signing of the Initial Memorandum of Understanding between the Zanzibar Investment and Development Authority (ZIPA) and the American Investors Institute, as well as the second cooperation agreement between ZIPA and AfriExim Bank.
The Zanzibar Investment Forum 2026 has included approximately 600 participants from various countries, including representatives of financial institutions, development partners, traders, professionals from various sectors and Tanzanians living abroad (Diaspora).
