China invested about one billion dollars in last five years in Mozambique

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China invested about one billion dollars in last five years in Mozambique

7:33 CAT | 16 May 2023

Mozambique's participation in the upcoming 3rd China-Africa Economic and Trade Expo (CAETE)results from the strong existing cooperation between Mozambique and China, Minister Silvino Moreno said. The 3rd CAETE, on the theme of “Common Development for a Shared Future”, is taking place in Changsha, Hunan, between June 29 and July 2. [Photo: Ministério da Indústria e Comércio - Centro de Informação de Negócios]

The Minister for Industry and Trade, Silvino Moreno, has revealed that China, in the last five years, has invested about one billion dollars in Mozambique, especially in infrastructure.

“With China we have very strong bilateral cooperation. China is Mozambique’s third largest bilateral partner and has invested in the last five years about one billion dollars in infrastructure and other projects in our country”, the minister said on Monday during the promotion of the 3rd China-Africa Economic and Trade Expo (CAETE), to be held from 29 June to 2 July in Changsha, in the Chinese province of Hunan.

The country’s participation in this event results from the strong existing cooperation between Mozambique and China, he said.

“We are sure that this is the path we have to follow, to attract more Chinese investment and take advantage of the opportunities that are offered, not only for the government or the state, but also for private companies that are the engine for the country’s development”, Moreno added.

According to Moreno, the government continues to seek access to international markets for exports, but also for investment in various infrastructures.

“We need proper roads in this country, tarred roads and bridges in various parts of the country. Infrastructure is our biggest challenge, as well as the agriculture sector. We need to attract large operators in the area of industry, especially in the steel industry, metal transformation, and other large projects”, he said.

The Deputy President of the Mozambique Chamber of Commerce (CMM), Yolanda Fernandes, called on Mozambican businessmen from the public and private sectors to join the event, as “it constitutes an opportunity in various sectors, such as agriculture, mining and infrastructures.”

For her part, the economic and trade counsellor of the Chinese Embassy in Mozambique, Xu Weili, said that trade between Mozambique and China in 2022 reached about 4.6 billion US dollars with a 16 percent increase over 2021.

“We hope that this conference may open an opportunity to strengthen economic and trade exchanges to further expand the bilateral economic and trade relationship”, she assured.