Z’bar promises investor friendly environment

ISSA YUSSUF in Zanzibar

PRESIDENT Ali Mohammed Shein has reiterated his government’s commitment to create more conducive environment for foreign and domestic investors.

He made the promise on Saturday during his visit to Mahonda Sugar Factory, north of Zanzibar Stone Town where he commended the ongoing refurbishing of the factory under the new management of ‘Shanta Sugar Holding Limited’ from India.

Dr Shein said the government recognizes efforts being taken by investors, as he assured that the government will continue to be close to both local and foreign investors for the development of the Islands.

“It is a fact that no country can develop without investors’ support because of their role in economy and providing employment to citizens,” said Dr Shein.

The more than $41m investment in the sugar factory has provided employment to at least 700 people comprising 200 working in the factory, and the rest in sugarcane farms.

Dr Shein was impressed to learn that the factory was also planning to start producing its own electricity, and the surplus power to be used by poor people in the nearby village. ‘Shanta Sugar Holding Limited’ factory management chairman, Mr Mahesh Patel, informed the President that they have been progressing well.

The factory has requested the government for more land for cultivation, warehouses, and houses for their staffs, receiving accepting nod from Dr Shein.

The Zanzibar Minister responsible for Investments, Mr Omar Yussuf Mzee, said before the President that the development of the sugar factory was an opportunity for economic growth, and employment and “other products like fertilizers to be used in the islands.”