Zanzibar President Hussein Ali Mwinyi has called on South Korean investors to tap into opportunities in the Isles, particularly in tourism, the blue economy, port development, transport and agro-processing, as the government seeks to attract capital, technology and expertise to accelerate economic growth.
Dr Mwinyi said partnerships between foreign investors and local businesses would be important in ensuring that investment translated into expanded business activities, technology transfer and greater participation of Zanzibar companies in the economy.
He made the remarks on October 30, 2026, during a dinner hosted by the Tanzanian Embassy in South Korea at the Grand Hyatt Hotel in Seoul, as part of efforts to strengthen trade and investment relations between the two countries.
The President identified the blue economy, tourism, ports, transport and industries that add value to agricultural produce as priority areas offering opportunities for South Korean companies.
His appeal comes as Zanzibar seeks to attract investment beyond traditional economic activities, particularly into sectors that can create jobs, strengthen local businesses and increase the value of products before they reach domestic and international markets.
Dr Mwinyi also urged South Korean investors to establish joint ventures with local entrepreneurs, saying cooperation would allow the two sides to combine financial resources, technology and business experience.
Such partnerships could help local companies access modern production methods, expand their operations and participate more effectively in larger investment projects.
On the investment environment, Dr Mwinyi said the Zanzibar Government was continuing to improve laws, regulations and services offered through the Zanzibar Investment Promotion Authority (ZIPA) to facilitate investment.
The improvements are intended to make it easier for investors to establish businesses and operate in the Isles, while creating an environment that encourages long-term partnerships.
The President's engagements in South Korea included investment and trade meetings in Seoul, visits to industries and development projects in Yeosu, and participation in the ITOP conference on Jeju Island.
He also held discussions with South Korean companies on potential strategic projects in Zanzibar, as the government seeks to turn investment interest into concrete business opportunities.
The dinner was attended by South Korean government representatives, diplomats, financial institutions, business leaders and investors from various sectors.
The challenge now will be to translate the investment discussions into actual projects that can expand productive capacity, create employment and deliver economic benefits to businesses and households in Zanzibar.