19 June 2014

Mozambique: Foreign Minister Calls On German Business to Invest

Berlin — Mozambican Foreign Minister Oldemiro Baloi on Wednesday invited German businesses to invest in Mozambique.

He was speaking in Berlin at the opening of a Round Table on Business and Investment Opportunities in Mozambique, held as part of Baloi's three day official visit to Germany at the invitation of his German counterpart, Frank-Walter Steinmer.

About 20 representatives of major German companies, including Siemens, Lufthansa and Gauff, attended the round table.

In his speech, Baloi recalled that in recent years Mozambique's gross domestic product has grown at an average annual rate of 7.5 per cent. Forecasts for 2014 are that growth will reach 8.3 per cent.

“I would like to invite all German business people to visit Mozambique, our pearl of the Indian Ocean, to explore the multiple opportunities our country has to offer”, said Baloi. “They cannot all be listed in a simple seminar such as this”.

He stressed that Mozambique is the second most successful country in Africa in attracting foreign investment, behind only Kenya. According to the Africa Attractiveness Survey 2014, the previous year Mozambique had an increase of 33 per cent in attracting foreign direct investment, beaten by Kenya's 40 per cent, but well ahead of Nigeria (19 per cent) and South Africa (17 per cent).

On Tuesday Baloi met with Steinmer, and stated that the purposes of his visit are “to strengthen friendship and cooperation between Mozambique and Germany, and make efforts to raise economic cooperation to the same level as our political relations”.

He said that German cooperation with Mozambique rests on four areas - German direct financial support for the Mozambican state budget, and German assistance to education, decentralisation and the private sector. Baloi stressed that German commitment to Mozambique is growing.

Steinmeir promised Baloi that he will soon visit Mozambique, to demonstrate German interest in promoting investment by German companies in Mozambique, and his government's commitment to strengthen partnerships with the Southern African Development Community (SADC).

During the visit Baloi also met with the executive chairperson of the company Merck Pharma, Stefan Oschman who guaranteed that his company can make the factory producing anti-retroviral drugs in the southern city of Matola a going concern, and will also be committed to the struggle against malaria in Mozambique.

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