Mozambique: Incubator extends access to financial services
Ambassador Extraordinary and Plenipotentiary of Vietnam, Nguyen Trung says his country has invested about US$500 million in development projects in Mozambique over the last five years.
The diplomat said the areas of agriculture and technology are the ones that which received most Vietnamese investment.
“I think we have investment (in Mozambique) of more than US$500 million over a period of five years,” Trung told journalists on Wednesday night after bidding farewell to President Filipe Nyusi at the end of his term in the southern African country.
Trung said one of the projects supported by his country in Mozambique was the development of seeds to be used in the large-scale rice production project in Zambezia province. The investment was worth more than US$2 million.
According to the diplomat, the project aims to assist university students to focus on rice production.
“They will ensure food security,” he said, adding that Vietnam exports rice to Mozambique, and imports cashew nuts.
About the technology sector, Trung spoke of Movitel, one of the mobile phone operators in Mozambique, as an example of successful economic cooperation between the two countries.
Movitel, a unit of Vietnam’s Viettel, is Mozambique’s third biggest mobile phone operator and has invested over US$120 million during the past five years to build telecommunication infrastructure.Source: APA