2 July 2014

Mozambique: President Guebuza Invites Portuguese Businesses to Invest

Lisbon — Mozambican President Armando Guebuza on Tuesday invited Portuguese businesses to invest in Mozambique. He emphasised that it is a country where large and small projects can exist in a complementary fashion.

The President was speaking at the opening session of a business seminar organised to promote links between the two countries.

He highlighted that Mozambique is a country where the recent discovery of hydrocarbons has contributed to an improved business environment and an increase in investment.

To contextualise recent developments, the President pointed out that in 2007 the country created Special Economic Zones and Free Zones to accommodate anchor investment projects. These in turn created jobs and generated wealth for social and economic development.

President Guebuza stated, “Mozambique is no longer just a country of hopes and dreams. It is a country that is being built brick by brick. I invite Portuguese businesses to make their contribution through the establishment of partnerships to create mega projects, in an atmosphere of mutual respect and respect for the Mozambican legal system”.

The business seminar, according to President Guebuza, is a space to build mutual understanding, open new doors and allow for the exchange of experiences and sharing of information so that all can play their role in raising the level of cooperation between the two countries.

He added, “the high level of cooperation between Mozambique and Portugal is an unequivocal sign of friendship and solidarity. It is also a result of the legal instruments agreed between the two governments to advance those relations”.

For the President, the business environment is founded on Mozambique's macro-economic stability and average economic growth of seven per cent over the last fifteen years.

Portugal's Prime Minister, Pedro Passos Coelho, pointed out that business links between Portugal and Mozambique are increasing.

Portuguese direct investment in Mozambique in 2013 reached 130 million euros, creating 10,000 new jobs.

The Prime Minister added that the release of a line of credit of 134 million euros for business cooperation shows that Portugal will continue to raise awareness about Mozambique among international investors.

On Tuesday, President Guebuza also laid a wreath at the tomb of Luis de Camoes, who is considered to be the Portuguese language's greatest poet.

President Guebuza was also received at Belem Palace by his Portuguese counterpart, Anibal Cavaco Silva.

President Guebuza is on a three day state visit to Portugal.

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