“Mozambique is well positioned to receive major investments from the European Union”

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“Mozambique is well positioned to receive major investments from the European Union”

4:59 CAT | 17 Jun 2022

Photo: União Europeia em Moçambique

Mozambique is eligible and well-positioned to receive large investments from the European Union (EU) for defending adequate measures in the geostrategic component which allow the development of the Southern African region generally, the European Union ambassador in the country, António Benedito Gaspar, has said.

According to António Benedito Gaspar, quoted by Notícias, Mozambique’s road and rail corridors to the hinterland favour the national economy and make the nation a priority for investment from the European bloc.

The diplomat was speaking during the XXXI Business Forum in the province of Gaza, which brought together the diplomatic corps of European countries, the Mozambican government and the local business community. He said that Mozambique competes favourably for a significant part of the €155 million portfolio of projects earmarked for the African continent, in light of the last European Union–African Union summit.

Gaspar noted that the European market wants to increase its openness to national products and trade. “We will continue to offer all the conditions for placing Mozambican products on the European market within our economic partnership agreements and also facilitating the necessary equipment to leverage the country’s industrialization. We believe in Mozambique and in the importance of our partnerships,” he said.

For her part, Mozambique’s Minister of Foreign Affairs and Cooperation, Verónica Macamo, said that she believed that Gaza had a business community capable of projecting the province in the conquest of new markets at national and international level, and referred to the existing potential, which could allow the province to make a huge impact on the national economy, especially in the fields of agriculture and livestock, tourism, mining, renewable and conventional energy, transport and more.

Minister Macamo also recalled that the country has a favourable legal framework for business development, but that it needs some reforms to create greater comfort for national and foreign investors.

“We want to encourage and stimulate the active participation of European investors in private and public partnerships, among other innovative forms of investment in Gaza. We are confident that, through this forum, our entrepreneurs will maximise the results of contacts to establish beneficial partnerships,” she said.

The European Union is Mozambique’s largest business partner, with an investment volume of around €60 billion, concentrated in the gas and oil, infrastructure, tourism, logistics and other sectors.

Source: Diário Económico