PM urges UAE businesspeople to invest in Mozambique – Watch

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PM urges UAE businesspeople to invest in Mozambique – Watch

8:17 CAT | 10 Feb 2022

Photo: TVM

Speaking in Dubai on Monday, Mozambican Prime Minister Carlos Agostinho do Rosario urged business people from the United Arab Emirates to seize investment opportunities in Mozambique in areas such as hydrocarbons, renewable energies, agriculture, tourism, infrastructures and the development of the country’s industrial park.

Addressing the Business Forum between Mozambique and United Arab Emirates (UAE), in the framework of Expo-Dubai 2020, Rosario said that the forum, bringing together businessmen and political decision-makers, is a unique opportunity for both sides to deepen mechanisms leading to the strengthening and widening of commercial and economic relations.

“Mozambique has a wide variety of natural resources including natural gas. The exploitation of these resources must be carried out in a sustainable manner, in order to guarantee balanced economic and social development,” Rosario said, adding that to attain this goal, areas such as agriculture, fisheries, energy, tourism, infrastructures, logistics, transport and industrialization have been selected as strategic.

The selection of such areas as priorities, Rosario stated, is in a bid to diversify the country’s economy so as to ensure that there is more inclusive and sustainable development.

Rosario declared that Expo-Dubai is a window of opportunities to expose the country’s concrete’s business projects in several areas of mutual interest.

In order to ensure a wider attraction of private investment and a progressive improvement of the business environment, Rosario pointed out a number of actions underway such as peace maintenance, political stability and the fight against terrorism as essential to attract investments.

As a result of such efforts, Rosario said that the country’s political and security situation is by and large stable. The government, he stressed, is also committed to ensuring macroeconomic stability through the implementation of appropriate monetary and fiscal measures.

Over the last few years, Mozambique recorded an average annual inflation of less than 10 per cent, and in 2021 it stood at around five per cent, enabling stability of the exchange rate and the general price level. The government, he added, is also strengthening public management transparency, and fighting corruption through the implementation of legal and administrative reforms.