Mozambique: Reduced interest, fine waivers and monthly instalments for INSS debtors
SA businesses explore opportunities in Pemba and Maputo, Mozambique
3:33 CAT | 18 Nov 2019
South Africa’s deputy Minister of Trade and Industry Nomalungelo Gina will lead a group of businesspeople on an Outward Trade and Investment Mission to Pemba and Maputo, in Mozambique from 24-29 November 2019.
The objective of the mission is to increase bilateral trade and investment between South Africa and Mozambique by exposing South African companies to opportunities available in Mozambique.
Mozambique is South Africa’s third largest trading partner on the continent. Total trade between the two countries has remained strong over the past five years, growing from R43.9 billion in 2013 to R52.4 billion in 2018.
According to the Deputy Minister, the mission is an ideal platform for South African companies that would like to export value-added products and services, as well as those that are seeking investment opportunities in Mozambique.
“The specific focus of the mission will be on designated industrial and infrastructure projects as envisaged in the Memorandum of Understanding on Economic Cooperation between the two countries. These include the liquefied natural gas projects in the Northern Cabo Delgado Province; electricity generation, transmission and distribution systems; water supply systems; transport infrastructure such as ports, rail and roads; and the industrial development zones,” said Gina.
She said the projected economic boom associated with the development of the gas sector in Mozambique is expected to have multiple positive spin-offs for the rest of the economy.
“Natural gas discoveries are attracting investments and provide numerous opportunities for South African firms looking to expand into Mozambique,” said Gina.
Source: Cape Business News
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