Mozambique: Nyusi invites Finnish businesses to invest – AIM report | Watch

Login

Register

http://www.clubofmozambique.com/

Mozambique: Nyusi invites Finnish businesses to invest – AIM report | Watch

7:00 CAT | 21 Nov 2022

Photo: Confederação das Associações Económicas de Moçambique - CTA

Mozambican President Filipe Nyusi on Thursday invited Finnish businesses to invest in Mozambique and take advantage of the enormous opportunities the country has to offer.

Nyusi made the invitation during the Mozambique-Finland Business Forum in Helsinki, held as part of his four day working visit to Finland.

Speaking at the opening of the Forum, Nyusi listed the advantages for investors of banking on Mozambique, particularly due to the opening granted to foreign investors under the country’s current investment policy.

Cited by Radio Mozambique, Nyusi admitted that there is strong inflationary pressure arising from the Russian invasion of Ukraine. Nonetheless, he believed that the medium term prospect for the Mozambican economy remains positive, driven by the agricultural sector which is expected to grow by six per cent in 2022.

He pointed to a notable growth in fisheries and tourism and estimated that the overall growth rate for 2022 will be four per cent. This includes the impact of the export of liquefied natural gas (LNG), which began earlier this month.

A further aspect favourable to investors, he added, is the series of economic reforms approved recently by the government to stimulate the Mozambican economy.

These measures, said Nyusi, “have immediate effects on removing red tape from the licensing of businesses. This favours greater predictability and clarity for the private sector in its relations with the public sector and is expressed in the efficiency of the services provided.

On Friday, Nyusi began a three day visit to Portugal at the invitation of his Portuguese counterpart, Marcelo Rebelo de Sousa.

During the visit, he was expected to discuss the training of the Mozambican armed forces for the fight against terrorism in the northern province of Cabo Delgado, as well as new opportunities for cooperation in agriculture, tourism and labour, according to a press release from Nyusi’s office.

Watch the TVM report.