Mozambique port critical to chrome exports gets upgraded railway link
File photo: AIM
Mozambican President Filipe Nyusi arrived in Seoul on Sunday night (02) to participate in the Korea-Africa Summit, a two-day event starting on Tuesday (04), where the country aims to mobilize more investments.
Mozambique’s participation follows an invitation from South Korean President Yoon Suk Yeol.
The Summit will be co-chaired by the South Korean President and his Mauritanian counterpart, Ould Ghazouani, who is the current Chair of the African Union.
At the summit, President Nyusi, leading a delegation of various Mozambican officials, will have the opportunity to share the country’s vision for cooperation with Korea.
“We have a very good relationship with Korea and want to maintain this level,” said Minister of Industry and Commerce, Silvino Moreno, in a brief interaction with the Mozambican press accompanying the presidential delegation.
“Korean entrepreneurs are very interested in coming to Mozambique and investing in various sectors, including agriculture, infrastructure, communications, and technology. We want to ensure they find a conducive environment for investments,” Moreno explained.
Furthermore, the minister stated, “We encourage them to see this meeting as an opportunity to form contracts and partnerships, to convince Korean entrepreneurs to come to Mozambique.”
“Mozambican entrepreneurs are well-prepared. We had the opportunity to meet with them and understand their expectations to secure partnerships for the establishment of Korean companies in our country,” he noted.
Asked about the trade balance, Moreno acknowledged that it is currently deficit due to investments made for importing equipment, including the Coral Sul natural gas exploration platform in the Rovuma basin.
However, the minister considers the figures encouraging, “numbers that we want to see increase, and we have all the conditions for that to happen.”
This sentiment is shared by the Director of the Investment and Export Promotion Agency (APIEX), Gil Birres, who views the Summit as an excellent opportunity for Mozambique to promote its investment and export opportunities.
As an attraction for Korean companies, the minister assured that there are numerous incentives for investing in Mozambique.
“The mere presence of Korean companies investing in Mozambique is already attractive, as these companies help promote the country’s image as a destination for foreign investments,” Moreno stated.
Birres acknowledged that the trade balance is unfavorable for Mozambique and stressed the need to increase exports to Korea, citing agricultural products and other high-demand goods in the Asian market as examples.
He confirmed that efforts are ongoing, making the Summit another opportunity for Mozambique to explore existing opportunities and, above all, bring Korean companies to invest in the various economic sectors available in the country.
“We want to attract more investments in the agribusiness sector, which has great potential, and that’s the work we are focusing on now.”
Accompanying the President on this trip to Korea are the Ministers of Interior, Pascoal Ronda; Industry and Commerce, Silvino Moreno; and the Deputy Ministers of Mineral Resources and Energy, António Saíde; Economy and Finance, Amílcar Tivane; and Foreign Affairs and Cooperation, Manuel Gonçalves.
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