Chapo invites American businesses to invest

Maputo, 28 Oct (AIM) – Mozambican President Daniel Chapo has invited American businesses to invest in Mozambique, particularly in mineral resources and electricity.

According to the President, who was speaking at a roundtable discussion with the private sector, which marked the third day of his working visit to the USA, Mozambique is open for investments in the sectors of infrastructures, mineral resources, energy, agriculture and tourism.

He cited as an example of the country’s potential the Coral Sul liquefied natural gas floating platform (FLNG), anchored off the coast of the northern province of Cabo Delgado, which is operated by the Italian energy company ENI, and has been producing and exporting LNG since November 2022.

Recently, the French oil and gas company TotalEnergies, which heads the liquefied natural gas (LNG) consortium, in Palma district, announced the lifting of the declaration of force majeure that it had imposed on its operations, after suspending them in April 2021 following a major attack by Islamist terrorists against the town of Palma. The project is budgeted at around 20 billion US dollars, making it the largest foreign investment project in sub-Saharan Africa.

“We are pleased to be here to talk about business and the private sector; our vision is to develop Mozambique with the involvement of the private sector. Therefore, we are opening this opportunity to attract investment from this sector”, said Chapo.

“We are opening the doors of the country and we are here to invite the entire North American private sector to invest in Mozambique”, he added.

Chapo also listed the country’s main development corridors, with a special focus on the Nacala rail Corridor, in the northern province of Nampula.

“We also want to become the energy hub in the Southern African Development Community (SADC), because our neighbors, such as South Africa, Zimbabwe, Eswatini, Malawi, Zambia and Tanzania, have major challenges in the area of electricity. We believe that Mozambique is the solution, so we need more investment in the energy sector”, he said.

He acknowledged that the country lacks funds of its own for large scale investments, “therefore, I invite you to invest in Mozambique’s energy sector.”

He also highlighted the potential of Mozambican tourism, declaring that “the country is a paradise because of its beautiful beaches and conservation areas, ideal for tourism.”

Chapo arrived in Washington on Sunday to begin a six-day working visit to the United States, aimed at strengthening relations of friendship, solidarity, and cooperation between the two countries.
(AIM)
Ad/pf (416)