In the context of the ongoing efforts by the Egyptian African Businessmen’s Association (EABA) and the Tourism Committee of the Association, a significant step towards expanding investment and cultural cooperation between Egypt and Zanzibar has been taken with the signing of a cooperation protocol between the Egyptian African Businessmen’s Association and the Zanzibar Investment Authority.
The protocol was signed on behalf of the Egyptian African Businessmen’s Association by Dr. Yousrey El-Sharkawi, the Chairman of the Association, and on behalf of the Zanzibar Investment Authority by Mr. Saleh Sass Mohammed, the Executive Director of the Authority, reflecting the commitment of both sides to enhance economic and investment cooperation. This collaboration aims to strengthen the economic and investment ties between the private sectors of Egypt and Zanzibar, targeting the establishment of a strategic partnership that contributes to the development of tourism and investment projects and promotes exchange. This protocol embodies a shared vision to enhance economic ties among African countries and represents a new step towards achieving sustainable development and fostering economic growth for both parties.
Dr. Yousrey El-Sharkawi, EABA Chairman, stated, “The signing of this protocol represents an important strategic step towards enhancing economic and investment cooperation for the Egyptian private sector in Tanzania, particularly Zanzibar. We are committed to developing effective partnerships that contribute to the developmental goals of both countries, especially in the tourism and investment sectors. We believe that integrating efforts between the private sectors of Egypt and Tanzania will open new horizons for investment, leading to the creation of a productive economic environment for all.”
He concluded by saying, “We look forward to implementing joint projects that achieve mutual benefits and enhance economic growth. Strengthening economic relations between African countries is an integral part of our vision, and we will work diligently to achieve this vision through fruitful cooperation with the Zanzibar Investment Authority and members of the Egyptian tourism sector.”
Mr. Saleh Sass Mohammed, Executive Director of the Zanzibar Investment Authority, expressed his happiness at the signing of the cooperation protocol, saying, “This agreement represents a new and important beginning in developing investment partnerships with Egypt. We see this cooperation as a means to strengthen economic ties and open new investment opportunities, contributing to sustainable development in Zanzibar.”
Sass Mohammed added, “We are excited to work with the Egyptian African Businessmen’s Association, as we will exchange experiences and enhance cooperation in various sectors. We believe that this collaboration will yield positive results for both sides and boost economic growth in Zanzibar and Egypt alike.”
It is noteworthy that this protocol signed between the Egyptian African Businessmen’s Association and the Zanzibar Investment Authority establishes a practical framework that contributes to enhancing cooperation between the two parties in the fields of investment and tourism. The protocol includes a set of strategic objectives, such as enhancing economic ties between the private sectors of Egypt and Zanzibar and providing a conducive environment for investment through knowledge and experience exchange. The protocol also aims to support joint investment projects that benefit both parties and enhance the competitiveness of economic sectors in Zanzibar, contributing to sustainable development and economic growth in the region.
The signing of the cooperation protocol between the Egyptian African Businessmen’s Association and the Zanzibar Investment Authority reflects both parties’ commitment to expanding economic and investment cooperation for the private sectors in Egypt and Zanzibar and expresses hope for achieving tangible benefits for both sides. With ongoing joint efforts, both parties look forward to achieving a strategic partnership that will positively impact economic and social development in both countries, thereby enhancing Africa’s role in the global economic landscape.