Indonesia holds the Zanzibar-Indonesia Investment Forum with the theme “Navigating New Horizons in Blue Economy Cooperation” on Sunday, 1 September 2024, in Nusa Dua, Bali. (Photo: Kemlu/Andi Barus)

Badung, 1 September 2024 — The Vice Minister for Foreign Affairs of the Republic of Indonesia, Pahala Mansyuri, opened the Zanzibar-Indonesia Investment Forum, which was held under the theme “Navigating New Horizons in Blue Economy Cooperation,” on Sunday, 1 September 2024.

The event, which took place on the sidelines of the 2nd Indonesia-Africa Forum (IAF) in Nusa Dua, Bali, was attended by President of Zanzibar Hussein Ali Mwinyi, who was accompanied by Minister of Labor, Economy, and Investment Sharif Ali Shariff. Over 100 entrepreneurs and stakeholders from Indonesia, Zanzibar, and Tanzania were also present.

Pahala stated that the historical ties between Indonesia and Africa, established since the 1955 Asian-African Conference, form the bedrock for solidarity and cooperation among developing countries. Pahala also recognized the vast potential of Indonesia and the African region, which have a combined Gross Domestic Product (GDP) of approximately US$4.4 trillion and tremendous natural resources.

“Given the immense potential, we must enhance cooperation in strategic sectors, particularly the blue economy, which is highly relevant for island nations like Indonesia and Zanzibar,” said Pahala.

Pahala also spoke about the Blue Economy Framework developed by Indonesia, which aims to bolster sustainable marine resource management and improve community welfare.

The potential for cooperation between Indonesia and Zanzibar lies in the blue economy sector, including tourism and hospitality, capture and aquaculture fisheries, port infrastructure development, seaweed processing, as well as the oil and gas sector.

“The blue economy is a sector that holds great potential for us to develop collectively. This presents a valuable opportunity for businesses to strengthen their position in the East African market and build a more sustainable future,” said Pahala.

The Vice Minister of Foreign Affairs of the Republic of Indonesia, Pahala Mansyuri, converses with the President of Zanzibar, H.E. Hussein Ali Mwinyi, during the opening of the Zanzibar-Indonesia Investment Forum 2024 on Sunday, 1 September 2024, in Nusa Dua, Bali. (Photo: Kemlu/Andi Barus)

Meanwhile, the President of Zanzibar Hussein Ali Mwinyi stated that Zanzibar and Indonesia share many similarities as archipelagic nations with a strong commitment to maritime development and marine environmental preservation. “We invite businesses and investors from Indonesia to actively participate in developing priority economic sectors in Zanzibar,” said President Mwinyi.

During the discussion session, Saleh Saad Mohamed, the Executive Director of the Zanzibar Investment Promotion Authority, and Revokatus A. Rashel, the Director of Investment Facilities at the Tanzania Investment Centre, highlighted the potential of Zanzibar and Tanzania as significant investment destinations in East Africa.

They emphasized the importance of political stability, security, and legal certainty as critical factors to attract foreign investors.

Zanzibar is a semi-autonomous region of Tanzania situated off East Africa's coast. While it maintains political unity with Tanzania, it has its parliament and president.

The Zanzibar-Indonesia Investment Forum is an essential platform for deepening economic ties between Indonesia and Zanzibar and advancing cooperation in the blue economy sector. With support from various stakeholders, this collaboration is expected to generate tangible advantages for both parties and promote sustainable development in the future. (Kemlu/TR/Elvira Inda Sari/WW/SC).

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Director for Information and Media, Ministry of Foreign Affairs – Hartyo Harkomoyo (0811831899).

Get more information at https://infopublik.id/kategori/hlf-msp-iaf, https://media.msp-iaf.id/, and https://s.id/msp-iaf.