Nacala Special economic zone: Over US$2 billion invested from 2009 to June

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Nacala Special economic zone: Over US$2 billion invested from 2009 to June

2:19 CAT | 03 Dec 2018

File photo: RM

More than US$2.5 billion has been invested in the Nacala Economic Zone in Nampula since 2009 in 178 investment projects which, it is hoped, will create 23,000 jobs.

The figures were released on Wednesday by the permanent secretary of Nampula province, Veronica Langa, representing the Minister of Industry and Trade, Ragendra de Sousa, at the opening of the first Nacala Special Economic Zone international investment conference.

Langa noted that the private sector contributes 34 percent of global growth, adding that the Mozambican government sees special economic zones as a way of boosting and stimulating socio-economic development, and justifying its continued focus on the model.

Langa explained that, in order to achieve this, it was necessary to focus on diversification of activity, and citing agriculture, agro-business, tourism, infrastructure, transport and services, as areas that could transform economic zones into true nexuses of production and consumption and stimulate the flow of goods to national and regional markets.

Meanwhile, Lourenço Sambo, the director general of the APIEX, the Investment and Exports Promotion Agency, said that, in terms of competitiveness, the country did not fare very well, although it had enormous potential.

The First International Investment Conference in the Special Economic Zone of Nacala took place under the motto: ‘Nacala, Accelerated Growth Pole and Entry Point for Investment’.

Source: Rádio Moçambique