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Brazil’s investment reaches US$10 billion – Mining, Construction and Agriculture
1:51 CAT | 15 Jul 2016
A Bola (File photo) / A view of Beira city, capital of Sofala central province
Brazilian investment in Mozambique, principally in mineral extraction, construction and livestock, has reached about US$10 billion, and, according to Brazilian Ambassador to Mozambique Rodrigo Baena Soares, the goal is to expand this investment into the agri-processing sector.
In a press release summarising a meeting with the Confederation of Economic Associations of Mozambique (CTA), Baena Soares pointed out that the figure “makes Mozambique currently Brazil’s largest investment partner in the world”.
“Brazil has extensive experience in agriculture and, given that there is plenty of fertile land in Mozambique, we think we can expand significant presence in this vital sector of the Mozambican economy,” he said.
CTA President Rogério Manuel replied that the meeting was very productive, and covered cooperation between the CTA and the Embassy of Brazil, “with a view to promoting national and Brazilian business interests”.
“We also discussed issues related to the participation of national companies in large Brazilian projects in Mozambique,” Manuel said, adding that “Brazil’s presence in Mozambique [is] very strong”.
“If we look at investment by Brazilian companies in Mozambique, we see that is significant in terms of expertise, and funding aimed at the government is extremely high,” Manuel said.
The meeting covered bilateral cooperation between Mozambique and Brazil in the business sector and the participation of Brazilian companies in the upcoming Maputo International Fair (FACIM), which will take place at the end of August, the statement read.
Source: A Bola / AIM
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