Revitalization of the industrial estate: Nyusi urges investors to submit realistic plans

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Revitalization of the industrial estate: Nyusi urges investors to submit realistic plans

3:22 CAT | 22 Jun 2023

Photo: Frelimo / Facebook

The President of the Republic, Filipe Nyusi, this morning once again appealed to domestic and foreign businesspeople participating in the XVIII Annual Conference of the Private Sector (CASP) to present realistic plans for revitalising or transforming idle factories such as Mabor, Vidreira and the many others spread across the country.

The idea is to ensure that it is possible to attract investments for their operation for the benefit of the national economy.

1,370 investment projects approved in last four years

From 2018 to 2022, the country attracted more than 1,370 investment projects valued at more than 10.2 billion meticais, not counting gas projects, President Filipe Jacinto Nyusi said.

Of these new investments, the energy sector leads with more than 41% of requests, and industry follows with 18%.

President Nyusi also made it known that, from 2019 to 2022, more than 200 investment projects in manufacturing were approved, generating more than 10,000 jobs in various provinces of the country.

There are opportunities in agriculture

Filipe Nyusi recognized that more than 87% of Mozambican employment is informal, with the majority of that in subsistence agriculture.

However, Nyusi said that there are opportunities in this sector, with the emphasis on the production of rice, peas, cassava to ensure food security, in addition to cash crops such as tobacco, sesame, macadamia, coffee and others.

“Still, little economic growth is observed. We can and must grow more,” Nyusi said.

Caspnyusi.frelimo