Zanzibar Investment Promotion Authority (ZIPA) hands over recognition documents to Strategic Investors

On the 27th of April, 2023 Zanzibar Investment Promotion Authorithy (ZIPA) held an event at Marubuhi Complex ZIPA’s head office to grant the Stategic Investment Status to AZAM Marine Company and Matemwe Muyuni Company Limited for their strategic projects that have strong positive impact on Islands’ economy.

The certificates of Strategic Invetment Status were handed over by the guest of honor of the event Hon. Mudrik Ramadhan Soraga, Minister of State, President’s Office, Labour Economic Affairs and Investment to Mr. Abubakar Aziz manager of AZAM Marine Company and Mr. Alfredo Ouri who is the manager of Muyuni Company Limited. Hon. Soraga explained the reason for this milestone is that these two investors have met all the requirements for granting them Strategic Investment Status.

Right after the handover of the certificates, ZIPA’s Executive Director Mr. Shariff A. Shariff emphasized on the reasons for granting the Strategic Investmet Status is the recognition and appreciation of the investors that have all the necessary requirement for this status which are investing in Zanzibar for not less than 100 mil USD, or creating not less than 1000 jobs for the local or can be Investing not less than 50 mil USD in disadvantageous areas in Unguja.

Then the investors had the chance to express their appreciation and thanks to ZIPA and the Revolutionary Government of Zanzibar as a whole for their immense support to their projects and promised to continue to work hand and hand with the Government and abiding all the laws and regulations of the country