Mozambique: PM Urges South African Companies to Invest

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Johannesburg — Mozambican Prime Minister Carlos Agostinho do Rosario on Monday invited South African potential investors to familiarise themselves with Mozambique's portfolio of development projects, and to decide to invest.

Speaking in Johannesburg, at a round table preceding the second edition of the Africa Investment Forum, Rosario urged his audience "don't hesitate in your decision to invest in Mozambique, because in doing so you will be betting on a good business, and at the same time contributing to the development of our country.

During the round table, heads of state and government made short interventions followed by debate on the political scenario and the opportunities for investment in Africa.

Rosario, who was representing President Filipe Nyusi, praised the role of the private sector as an essential partner in promoting the agenda of governance, particularly with regard to job creation and improving the living conditions of the population.

He stressed that the main goal of the government's actions in Mozambique is to contribute to improving the quality of life. The government, he said, is implementing a National Development Strategy for the period 2015-2035, resting on human capital, through the promotion of "inclusive economic growth", and the creation of more jobs and income, particularly for young people, who are the majority of the Mozambican population.

To achieve this goal, Rosario continued, the government has defined priority areas, including agriculture, energy, tourism, infrastructures and the industrialisation of the country, banking on the diversification of the economy so as to ensure that economic growth benefits the majority of the population, through the greater availability of food, water and sanitation, electricity, education, health and social protection.

The Prime Minister also stressed Mozambique's commitment to peace, without which its development plans would be compromised.

As for the projects for which Mozambique needs financing, the priority is the financing of the National Hydrocarbon Company (ENH) for its participation in the liquefied natural gas (LNG) project in Area One of the Rovuma Basin in the northern province of Cabo Delgado.

For the ENH participation in the LNG project, Mozambique hopes to mobilise 1.3 billion US dollars. The gains from this project will include the creation of 15,000 direct jobs, and a variety of downstream projects including the generation of electricity and the production of fertilisers.

Mozambique is also bringing to the Forum projects in agriculture, agro-industry (notably the production of organic sugar), the textile industry and port facilities.

The government wants to diversify the economy so as to ensure that investment in natural gas does not damage the development of other vital sectors such as agriculture.

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