Mozambique calls for more foreign investment

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Mozambique calls for more foreign investment

7:21 CAT | 04 Nov 2016

File photo / President Filipe Nyusi

Mozambican President Filipe Nyusi called for more foreign investment and expressed his confidence on the country’s economic growth in the coming 5 years as he opened an International Investment Summit Wednesday in Maputo.

During his interaction with foreign investors during the Summit, held by the Financial Times, Nyusi appealed to them to dig opportunities in the country through investing in and making use of the extensive potentials of the country rich in resources.

The president encouraged investors to concentrate their funds to the sector of agriculture and all its value chain where he advised the exploration of strategic partnerships.

“The world economy including Mozambican is now facing issues of deceleration of investments, reduction of international trade, fall of oil price, and other raw material,” said the president.

“Despite all this, the coming 5 years economic perspective is positive to foreign investment,” added the president.

In his perspective, although the financial trouble shocks Mozambican economy, the Gross Domestic Product (GDP) of the country is expected to increase by 4.5 percent in 2016.

Nyusi said that Mozambique’s potential in resources will play a key role in that process, placing it in privileged positions compared to other countries in Southern Africa.

The president also suggested the participants to pay more attention to opportunities in the country’s tourism industry.

Talking about the political instability that the country is suffering, the president reiterated the need of an effective restoration of peace so that economic growth can be inclusive and competitive.

Source: Xinhua