Mozambique interested in learning from Norway

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Mozambique interested in learning from Norway

7:20 CAT | 13 Nov 2018

The President then attended a working lunch with more than a dozen representatives of large Norwegian companies, investors in Mozambique and others who are still identifying business opportunities in our country. Picture: Presidência da República de Moçambique

Mozambican President Filipe Nyusi, speaking in Oslo, has expressed Mozambique’s interest in learning from the experience of Norway in managing natural resources, particularly natural gas and petroleum.

Nyusi arrived in the Norwegian capital on Tuesday morning for a three day official visit, and immediately held a meeting with the delegation of Mozambican business people who are accompanying him.

Nyusi said that the management model chosen by Norway is worthy of attention both by the government and by Mozambican private business.

Norway is the seventh largest producer of petroleum in the world, and the third largest export of natural gas (behind Russia and Qatar). Much of the oil and gas money has been invested in a sovereign wealth fund, which is now the largest in the world, with assets of about 1.3 trillion US dollars. Only about three per cent of this is ploughed into the Norwegian budget, while the rest is applied in shares, real estate and investments abroad.

“We want to understand what the sovereign fund is”, said Nyusi. “Norway has experience in the transparent management of natural resources through the private sector”.

Reaffirming Mozambique’s willingness to attract more Norwegian investment, Nyusi also met with representatives of more than ten Norwegian companies that already invest, or have expressed an interest in investing, in Mozambique.

At this meeting , Nyusi was accompanied by the chairperson of the Confederation of Mozambican business associations, Agostinho Vuma, and representatives of major public companies and institutions, including the National Hydrocarbon Company (ENH), the National Petroleum Institute (INP), the public electricity company EDM, and the port and rail company, CFM.

Somos 37 empresários nesta missão-Noruega, representando os sectores minas, Energia, Pescas, Agro-indústria, Transporte e logística, Sector financeiro e Infraestruturas. Queremos investimentos em Moç. e explorar experiências de Oil&Gas, bem assim da internalização da economia. pic.twitter.com/jmnXBTIXq2

— Agostinho Vuma (@VumaAgostinho) November 13, 2018

#Oslo: Welcome to the Norway – Mozambique Energy Business & Investment Forum Thursday Nov 15th at 08:30 – hosted by NABA, @NORWEP and CTA in connection with President Filipe Nyusi’s official visit to Norway: https://t.co/KGaPEp11HA pic.twitter.com/dE6TjOyAsY

— NABA (@NABAorg) November 12, 2018