Mozambique: India Invested Over 316 Million Dollars Over Last Decade in Mozambique

26 July 2023
Agencia de Informacao de Mocambique (Maputo)

Maputo — India has invested around 316.4 million dollars over the last ten years in Mozambique, especially in the sectors of agriculture, agro-processing, hydrocarbons, agricultural marketing, energy, logistics, the pharmaceutical industry and medical services.

This amount, according to the Minister of Industry and Trade, Silvino Moreno, speaking at the Mozambique-India Business Forum held in Maputo, places India in sixth position on the list of the ten biggest investors in the Mozambican market.

"The growing presence of large companies from India in the areas of mineral resources, pharmaceuticals and hospitals in Mozambique highlights the strategic dimension of the bilateral relations between the governments of India and Mozambique, which has been translated into joint actions within the framework of the development process focused on priority sectors with an impact on improving the living conditions of our peoples', Moreno said.

According to the Minister, "the competitive, entrepreneurial and diversified capacity that India has in terms of capital, technology, experience and partnership, makes it a privileged partner of Mozambique.' Moreno also said that India is a strategic trading partner, being responsible for 15% of national exports.

"Over the last five years, our trade balance has seen India as a strategic partner for Mozambique, the third largest partner in terms of exports with a total of over 5.8 billion US dollars, which is 15% of the total volume of exports', he noted.

On the same occasion, the Indian High Commissioner in Mozambique, Shri Ankan Banerjee, said that Mozambique constitutes a great source of agricultural resources for that Asian country.

"Mozambique is an important source of critical resources for India's agriculture. Mozambique has exported 1.2 billion dollars of agricultural products in recent times. Mozambique is also an important destination for pharmaceutical products from India', he concluded.

The "Mozambique and India Fair and Exhibition' is a two day event with the aim of promoting business opportunities, investments and partnerships between businessmen from both countries.

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