Mozambique: Nyusi urges businesses to invest in Mocuba

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Mozambique: Nyusi urges businesses to invest in Mocuba

11:09 CAT | 20 Apr 2022

Photo: TVM

Mozambican President Filipe Nyusi on Monday invited Mozambican and foreign businesses to exploit the multiple advantages of investing in Mocuba district, in the central province of Zambezia.

At a ceremony where he inaugurated a new courtroom for Mocuba, Nyusi declared there is strong potential for investment in the textile industry, the construction of a dry port, the processing of minerals, agro-business, logistics and services.

He declared that industrialization could drive the development of Mocuba as a district that plays a connecting role between the southern and northern regions of the country.

“Mocuba covers a range of potential for the social and economic development of Mozambique, notably agriculture as the galvanizing factor and main source of income for the rural population”, said the President. “It’s an area that offers opportunities for investment in manufacturing industry, logistics and services, notably the possibility of installing a dry port, while we await construction of the port of Macuse (on the Zambezia coast) capable of driving the development of this region”.

He added that, because of its enormous potential, Mocuba was declared a special economic zone and an industrial free zone in 2014, with a range of customs and tax incentives to attract more investment.

Nyusi urged the business class to take advantage of the special status granted to Mocuba to generate jobs and income for young people.

“If these possibilities are duly exploited, they carry the possibility of creating more jobs with the speed that our youths need”, he said.

Watch the TVM report.