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The Dubai Chamber of Commerce and Industry (Dubai Chamber) cemented bilateral trade and investment linkages between Mozambique and Dubai by opening its third office on the African continent in Maputo.
Sub-Saharan Africa, due to its increased economic growth over the past years, has become an increasingly attractive opportunity, and over 12,000 African companies are registered with Dubai Chamber.
The Chamber’s two international offices in Ethiopia and Ghana have already helped to garner a strong foothold in the larger East and West African region, and the decision to open an office in Maputo is based on research and analysis of further business opportunities in Africa, that have highlighted Mozambique as a destination of choice for developing mutual business partnerships with UAE businesses.
The office in Maputo will build on strong global indicators of advanced business opportunities in Africa by contributing to strengthening economic and bilateral ties while boosting investor confidence in Mozambique’s lucrative investment sectors such as agriculture, power generation, tourism, transport and infrastructure. It will play a central role in supporting the expansion of Dubai businesses in to Mozambique, as well as fostering local partnerships with the Middle East and South East Asia through Dubai.
Ernesto Max Tonela, Minister of Industry and Trade, said: “We welcome the opening of the new Dubai Chamber office here in Maputo and we are confident that this move will strengthen the economic and cultural ties between Dubai and Mozambique.”
Dubai Chamber’s trade mission to Mozambique is a significant step in the right direction towards enhancing cooperation and collaboration between public and private sector business’s in Mozambique and Dubai. Participation in the trade mission by a wealth of key members of Dubai’s business community signifies the attractiveness of the two-way trade growth potential for Dubai’s business community. Dubai’s non-oil trade with Mozambique grew from $130.2 million in 2010 to $195.7 million in 2015, registering a growth of over 50%. Through a series of public and private sector discussions, the mission has successfully provided direct access to the latest opportunities and partnerships in business and investment.
“Dubai Chamber’s representative office in Maputo will play an instrumental role in facilitating the expansion of Dubai businesses into the African Continent. We are very confident that the Maputo office will serve to support and strengthen national goals for economic growth, as well as develop meaningful and strategic business partnerships”, explained Majid Saif Al Ghurair, Chairman of the Dubai Chamber.
The day’s meetings comprised a round-table discussion titled, “Africa – Bridging the Gap,” that identified opportunities in the gas industry as it retains its potential to be a major driver of medium-term growth.
Agricultural output is forecasted to pick up from 2017 and several challenges, such as the structural constraints in the smallholder agricultural sector can be overcome.
“The agricultural sector in Mozambique employs the majority of the population, and by helping to strengthen the bilateral ties between both countries, we believe that these challenges can be overcome with the right partners and investors in play,” continued Al Ghurair, Chairman of the Dubai Chamber .
Another positive indication is that the labour-intensive manufacturing sector is forecast to pick up from next year. Imminent improvements to the country’s power supply and port infrastructure will assist growth to further bolster future investment.
The delegation also visited Midal Cables International Limitada, the organisation responsible for supplying the world market with rod cast from molten Aluminium.
Asim Mirza Al Rahmah, UAE Ambassador to Mozambique, said: “Mozambique is country of huge potential, especially in the agriculture, oil and gas and tourism sectors, and over the past few years the country has become an increasingly important trade partner for the UAE. The opening of a dedicated Dubai Chamber will significantly boost bilateral trade and investment opportunities and will further cement the strong relationship between our two countries.”
African Global Business Forum (AGBF)
Since its inception in 2013, the African Global Business Forum (AGBF) has provided the ideal platform for mutual investment between Africa and the world through Dubai. Dubai Chamber launched the AGBF in 2013, with the inaugural edition held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The forum facilitates the engagement of key leaders from various governments and multinationals to support economic development and explore new investment opportunities in Africa.
Dubai Chamber of Commerce & Industry
Established in 1965, the Dubai Chamber of Commerce & Industry is a non-profit public entity, whose mission is to represent, support and protect the interests of the business community in Dubai by creating a favourable business environment, supporting the development of business, and by promoting Dubai as an international business hub.
Source: Dubai Chamber
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