Mozambique: South African riots damage informal traders - AIM report
Photo: Presidencia da Republica de Moçambique
Mozambican President Filipe Nyusi on Friday urged Mozambican businesses to take a forthright stance in pursuing partnerships with their Egyptian counterparts.
He was speaking in Cairo at a meeting with the business people who are accompanying him on an official visit to Egypt, at the invitation of Egyptian President, Abdel Fatah El-Sisi.
Nyusi, cited by Radio Mozambique, said it was important for Mozambican businesses to learn from the best experiences of Egypt, particularly in agriculture, fisheries, infrastructures and health.
There were 13 business people on Nyusi’s delegation and this Saturday they took part in a Mozambique-Egypt Business Forum.
The General Director of Mozambique’s Investment and Export Promotion Agency (APIEX), Lourenco Sambo, told the meeting that on the Egyptian side there is also an interest in partnerships with Mozambican businesses, and in investing in Mozambique, particularly in natural gas.
Sambo also called for increased trade between Mozambique and Egypt, noting that currently trade between the two countries is running at only 1.6 million US dollars a year.
As for investment, to date there are only two Egyptian investments in Mozambique, both in Maputo province. One is a logistics and services company in the city of Matola. This is an investment of about a million dollars which can generate 400 jobs for Mozambicans.
The second is a mineral water processing company in Namaacha district. This is an investment of 350,000 dollars, which has created just 20 jobs.Source: AIM