President Nyusi implores Batswana to invest in Mozambique – BOPA report

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President Nyusi implores Batswana to invest in Mozambique – BOPA report

9:08 CAT | 27 Apr 2017

Bwgovernment Facebook / President of Mozambique Filipe Nyusi

President Filipe Nyusi of Mozambique has implored the local business community to invest in his country.

He noted that Mozambique offered legal advantages to investors in sectors such as agriculture, infrastructure, energy and tourism aimed at developing them.

Addressing a Botswana-Mozambique business forum on April 25, President Nyusi said there were investment opportunities in Mozambique, and that eight Foreign Direct Investment (FDI) projects from Botswana had been approved in Mozambique.

He said over the last five years, eight Batswana projects were approved in tourism, industry, construction and services to the amount of six million USD estimated to generate about 257 jobs.

He added that more lucrative investment opportunities to enable efficient movement of people and goods in the Southern African Development Community (SADC) existed for the two countries which included the integrated deep waters port project of Tchobanine in Maputo which, he said, would establish a connection with the coal rich area of Selebi Phikwe through Zimbabwe.

“This large scale and complex project requires thorough studies including the environmental component as well as the harmonisation interests and financial resources mobilisation,” he said.

He said Mozambique, which relied on aluminum, prawns, cashew nuts, cotton, sugar, citrus and timber exports, had discovered some mineral resources and needed to tap into Botswana’s mining expertise.

“In the area of mining, there is a strong potential for cooperation between the two countries,” he noted.

He said the tourism sector was yet to be unlocked, adding that “Mozambique is endowed with a long coastline of more than 2 500km with a development rate below 25 per cent.”
Furthermore, he said in support of SADC regional integration and doing business with other African nations, Mozambique could import beef from Batswana as opposed to getting it from afar.

The Minister of Investment, Trade and Industry, Mr Vincent Seretse welcomed President Nyusi and his entourage to Botswana.

Minister Seretse said the Botswana-Mozambique business forum fostered investment relations between the two countries because it provided them with an opportunity to deliberate on areas of concern and challenges that could hinder trade and business between them.

He said the two countries have enjoyed bilateral relations which date beyond the establishment of diplomatic relations in 1975.

The relations, he said, were underpinned by strong and historical ties which date back to the liberation struggles of Mozambique. Mr Seretse noted that there was growing interest by Botswana companies to invest in Mozambique, and encouraged the local business community to continue to explore investment areas.

He stated that Botswana continued to improve its doing business reforms thus its ratings continued to improve and it enjoyed sovereign credit ratings.

Furthermore, he implored the business community to take advantage of the corporate incentives government had put forth as part of the Selebi Phikwe revitalisation programme.

Source: Bopa