Mozambique: Minister Calls On Norway to Diversify Investment

Maputo — The Mozambican Minister of Industry and Trade, Carlos Mesquita, declared in Maputo on Thursday that those interested in investing in Mozambique should look into not only its hydrocarbon potential, but also other areas such as agriculture and infrastructures.

Speaking at the opening of a Mozambique-Norway Business Seminar, held as part of the visit by Norwegian Crown Prince Haaken Magno, Mesquita stressed investment in grain and vegatable crops, among other agricultural produce which has a guaranteed market inside and outside of Mozambique.

"We would like to draw your attention to the vast range of investment opporttunities - notably grains such as maize, rice, wheat and soya, vegetables, fruits, organic products which are in incrrasing demand on the European market, as well as such cash crops as macadamia nuts, cashew, sesame, tobacco and cotton".

Mozambican businesses have a range of projects, costed ata round a billion US dollars, that will be presented in May at the annual conference of the private sector. The Chairperson of the Confederation of Mozambican Business Associations (CTA), Agostinho Vuma, said he was counting on support from Norway to help finance these projects.

Prince Haakon stressed the importance of the private sector in promoting the sustainable development of Mozambique, as well as the need for technological mastery for success in exploiting hydrocarbon reserves.

Mozambique is one of the main receivers of Norwegian investment in southern Africa. The statistics show that in 21018 the country received investment of 2.5 billion dollars from Norway, mostly for the hydrocarbon area.

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