Indonesian Vice Minister of Foreign Affairs, Pahala Mansyuri, opened the Zanzibar-Indonesia Investment Forum with theme ” Navigating New Horizons in Blue Economy Cooperation on Sunday, September 1, 2024.
The event was held on the sidelines of the Second Indonesia-Africa Forum held in Nusa Dua, Bali, which was attended by Zanzibar President Hussein Ali Mwinyi, who was accompanied by Zanzibar Minister for Manpower, Economy and Investment Ali Shariff along with more than 100 businessmen and stakeholders from Indonesia, Zanzibar and Tanzania.
Pahala said Indonesia and Africa have historical close relationship since the 1955 Asia-Africa Conference that became solidarity foundation and cooperation among developing nations.
Pahala also viewed huge potential owned by Indonesia and Africa region with combined Gross Domestic Product of US$ 4.4 trillion and abundant natural resources.
“With huge potential resources, we have to strengthen cooperation in strategic sectors mainly blue economy that is relevant for archipelago like Indonesia and Zanzibar,” Pahala said in a statement quoted on Monday, September 2, 2024.
On the same occasion, Pahala presented Blue Economy Framework that has been developed by Indonesia aimed at increasing the management of sustainable marine natural resource and people’s welfare.
There are potential cooperation between Indonesia and Zanzibar in the sectors of blue economy, including tourism, seaweed processing, and oil and gas sector.
“Blue economy is a potential sector that we need to develop together. This is a golden opportunity for businessmen to strengthen their presence in East Africa market and to develop sustainable future.” Pahala said.
Zanzibar President, Hussein Ali Mwinyi, said Zanzibar and Indonesia have many similarities as archipelagic countries with strong commitment to develop maritime sector and marine environment sustainability.
“We invite businessmen and investors from Indonesia to actively participate in developing prioritized economic sectors in Zanzibar,” President Mwinyi said.
At the discussion session, Executive Director Zanzibar Investment Promotion Authority Saleh Saad Mohamed and Director of Investment Facility at Tanzania Inevestment Centre Rovokatus A. Rashel presented Zanzibar and Tanzania potential as main investment destination in East Africa.
They emphasized political stability, security, and legal certainty as attracting factors for foreign investment.
Zanzibar is part of Tanzania and it is located on the off shores of East Africa. As semi-autonomous region, Zanzibar maintains political unity with Tanzanian but it has its own parliament and president.
Zanzibar-Indonesia Investment Forum becomes an important platform to strengthen economic relationship between Indonesia and Zanzibar and develop cooperation in blue economy sector. With supports from various stake holders, it is hoped that the collaboration will give real benefit for both parties and encourage sustainable development in the future.
