7 November 2012

Mozambique: Argentine Business Mission Visits Nation

Maputo — A group of 28 potential investors from small and medium Argentine companies met in Maputo on Tuesday with about 60 Mozambican business people to discuss possible partnerships and investment projects.

The Argentine Deputy Minister of Industry, Horacio Roura, headed the group, which is the first ever mission of industrial cooperation between Argentina and Mozambique. The mission also seeks to increase trade between the two countries.

The Argentine mission includes business people from the food processing, chemical, automobile, engineering, construction, software, agricultural machinery and cultural industries. It also includes representatives of the Argentine National Bank, the Ministry of Agriculture and the National Institute of Industrual Technology.

During the meeting, the Deputy Chairperson of the Association of Mozambican Business Associations (CTA), Agostinho Vuma, told the Argentine mission “the business environment in Mozambique is very good and secure for foreign investment. The government and the private sector are committed to reforms”.

He was sure the reforms planned would enable Mozambique to improve its ranking in the World Bank’s annual “Doing Business” report by 2014 or 2015.

Mozambique slipped seven places in the latest issue of “Doing Business” from 139th to 146th position out of 185 countries.

Horacio Roura said that the demand for industrial machinery and equipment in Mozambique is continually growing, as are the requirements for medicines and other health sector inputs, and the need for the transfer of technology in agriculture, energy and mining.

“With this business mission, we want to share with Mozambique the path of development, since we all face the same challenges, which are to build increasing open societies in which all can participate in wealth creation”, said Roura. “The demand Mozambique presents, mainly in industry, is an investment opportunity for us”.

The Argentine mission leaves Mozambique on Wednesday, after a visit to the Mozal aluminium smelter, in Beleluane, on the outskirts of Maputo.

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