Tanzania July 2006 |
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| Zanzibar woos SA investors, (Financial Times, 2006-07-19):-Zanzibar President Amani Karume has called on South African investors to make the best of opportunities offered by the archipelago as it is moves from its single-crop economy to embrace a more diversified model led by the tourism industry. Agriculture is the mainstay of the economy, largely due to the clove industry, which is the main foreign currency earner for the Indian Ocean islands of Zanzibar and Pemba, independent group Zanzinet Forum says on its website. Historically trade has been second to farming but many years of isolation and socialist policies adopted after the 1964 revolution completely undermined its potential role in Zanzibar’s economy. “We used to depend on a single-crop economy, which did not take us far, and now for the last 15 years, we have invested heavily in developing international tourism as it’s one of the industries we see as having the biggest potential to lead a revival of the economy in the country,” Karume told Business Day. Among many tourist attractions offered by the islands are beautiful beaches, high-quality diving sites and historical sites such as the 500-year-old Stone Town, which has recently been registered by Unesco as a World Heritage Site. Karume says it is now ’’wise’’ for Zanzibar to encourage investments in the basic infrastructure needed to sustain tourism as an industry ? road construction, electricity distribution and transport networks, water supply and telecommunications. Zanzibar, Karume said, had adopted ”clear-cut” legislation in a bid to attract foreign direct investments, with tax holidays and guaranteed repatriation of profits being the most important of many incentives offered by the country’s investment code. Moreover, the country is beginning a drive to encourage public-private partnerships. “We are not shutting down our doors and, as a result, we encourage dialogue with the private sector. Whenever they have ideas to help develop the economy, they are welcome to express them and their suggestions are taken into account,” said Karume. “The best thing for them is to come and see what is for offer.” As the old saying goes? seeing is believing. | |
South African Migration Project (SAMP) - Queen's University - http://www.queensu.ca/samp |