Mozambique offers “excellent opportunities” for foreign direct investment

Maputo, 12 (AIM) – Mozambican President Filipe Nyusi has assured potential investors that the country offers excellent opportunities for foreign direct investment, highlighting the agricultural and electricity sectors as the most potential and promising.

According to Nyusi, who was speaking on Thursday, in Gujarat, at the opening of the Mozambique-India Business Forum, “connectivity, logistics corridors and tourism highlight Mozambique as a regional and continental hub from south to north”.

At the event, attended by dozens of Indian and Mozambican business people, Nyusi presented the existing investment opportunities in the areas of agriculture, mining, energy and mineral resources, which have been defined by the government as strategic for Mozambique’s development.

“Agriculture and the marine economy are supported by the strategic approach of the Agricultural Sector Development Plan and by SUSTENTA (the government’s flagship agricultural development project) and have reference value chains with a strong possibility of internationalization and openness to external capitalization”, the president said.

“Energy is another sector that Mozambique has chosen as a regional pole of reference, combined with the high potential for renewable energies in the context of harnessing existing resources with a view to energy transition. It is therefore an opportunity and an agenda for mobilizing investment”, he added.

According to Nyusi, the discovery of huge natural gas reserves in 2010 put Mozambique on the list of benchmark countries for energy production. It has changed the outlook for Mozambique’s economy and economic geography.

“It has opened up new horizons for development that are beginning to be felt. Since the end of 2022, the country has been on the list of gas producers with the start of production from the gigantic Coral South reservoir in the Rovuma basin (off the coast of the northern province of Cabo Delgado). This positions us at the forefront of energy production and the prospect of being a continental and world player”, claimed Nyusi.

At the Forum, the Mozambican Chamber of Commerce (CCM) and the Confederation of Indian Industries signed a memorandum of understanding focused on mobilizing investors.

The document provides for the mobilization of more entrepreneurs to invest in Mozambique in priority sectors such as agriculture, energy and mineral resources.

According to the CCM chairperson, Álvaro Massingue, two other memorandums were signed, one with the Open University of India and “the third one with an NGO that aims to support rural women.”

“This university will receive Mozambican technicians to train them and, above all, to be able to support the industries that will emerge in the midst of what we are achieving”, he added.

The forum is one of the side events of the 10th Gujarat Global Summit, where Nyusi is taking part at the invitation of Indian Prime Minister Narendra Modi.

(AIM)

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