Mozambique works on strategy to boost Chinese direct investment
A workshop on the post-Idai Business Recovery Assistance Programme (PAREPI), at 2:30 p.m. next Tuesday, April 16, at the Sena Hotel in Beira, will present the preliminary results of a survey on the effect of Tropical Cyclone Idai on the business fabric, and prospects for recovery.
The initiative is promoted by the Mozambican Business Confederation, CTA, in partnership with FAN [ Fundação para a Melhoria do Ambiente de Negócios / Foundation for the Promotion of the Business Environment], FSDMoz [Financial Sector Deepening Moçambique] and GAIN [Global Alliance for Improved Nutrition].
Three hundred and fifty participants, including business-people, government representatives and representatives of civil society and cooperation partners are expected to attend.
The event will comprise two main sections.
1. Diagnosis of Cyclone Idai’s Impacts on the Business Sector. Preliminary information will be presented on the mapping the CTA is conducting, including the number of damaged business and economic units, estimates of financial and economic losses, flooded agricultural areas and other statistical data.
2. Post-Idai Business Recovery Assistance Programme. Based on the above diagnosis, it is intended to design a platform for the mobilisation of funds for economic recovery called the Post-Idai Business Recovery Assistance Programme (PAREPI).
PAREPI will consist of opening a line of financing for CAPEX to support the reconstruction of business assets in terms of equipment, infrastructure and so on. This CAPEX line would be combined with an OPEX in partnership with commercial banks, and a programme of access to commodities.
The CTA “has been following with deep concern and dismay the effects of the devastation caused by Cyclone Idai in the centre of the country, particularly in the city of Beira, affecting particularly companies and thousands of families, including the loss of human life, cuts in the supply of electricity and water, and destruction of infrastructure”, a communique reads.
This catastrophe has affected practically the entire Zambezi Valley region, an area rich in food production and which, therefore, guarantees in large part the country’s food supply, as well as contributing to the balance of payments, the CTA notes.
The Mozambican Business Confederation stresses that, given the region’s role in the country’s economy and social fabric, it is essential to urgently implement bold and courageous initiatives that contribute to the recovery of business, and through that, employment and production for the entire economy.Source: CTA - Press Release
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