6 June 2014

Mozambique: Guebuza Invites Irish Businesses to Invest

Dublin — Mozambican President Armando Guebuza on Thursday urged Irish businesses to invest in Mozambique, and take advantage of the enormous potential the country offers.

Speaking during his state visit to Ireland at a meeting between Mozambican and Irish business people, Guebuza urged the Irish participants not to waste any time “since tomorrow could be very late”.

Given the recent discoveries of enormous deposits of mineral resources, notably coal and natural gas, Guebuza did not see how anyone could even hesitate when thinking about investing in Mozambique.

He stressed that Mozambique “has almost everything you could want for an investment that gives you returns”, and pointed out that the country has maintained its high economic growth rate, despite the international financial crisis that erupted in 2008.

Guebuza noted that Mozambique's accelerated economic growth was praised last week by the general director of the International Monetary Fund (IMF), Christine Lagard, during the “Africa Rising” conference organised in Maputo by the IMF and the Mozambican Finance Ministry.

Irish businesses which are already investing in Mozambique praised the country's potential, and declared that Mozambicans are hard working and learn rapidly. Among the business people present was Michael Carvill, Executive Director, of Kenmare Resources, which is exploiting the titanium bearing heavy sands in Moma, in the northern province of Nampula.

Also on Thursday, three memoranda of understanding were signed in areas where Mozambique and Ireland hope to cooperate in coming years. One of these areas is optometry, where the intention is to transmit knowledge to Mozambican university medical students about how to treat disease or defects of the eyes, such as cataracts.

The other memoranda concern the transmission of better agricultural techniques and practices to obtain better harvest yields, and cooperation between the Mozambican and Irish associations of accountants and auditors.

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