Mozambique invites Indian cos to invest; seeks stronger ties

Mozambique has invited Indian businesses to invest in the Southern African nation in areas like agriculture, technology and infrastructure, to deepen economic ties between the two nations.
"We would like to renew our invitation to Indian investors to invest in Mozambique through PPPs
(public-private-partnerships) and in individual capacities. We as a government would do our best to encourage reduction of barriers to promote conducive business environment.
"Our Government would focus on a policy of economic consolidation. Mozambique will guarantee your investments through upholding democracy," Mozambique president Filipe Jacinto Nyusi said today.
Nyusi, currently on a visit to India, was speaking at a conference organised by industry chambers FICCI, CII and Assocham here. He also met Prime Minister Narendra Modi earlier in the day.

"Our focus is to mobilise more investment for agriculture sector to produce more food... We would like to invite private investors to invest in Mozambique. We would like India to promote technological expertise, mining and pharma," Nyusi said.

India is a large trading and investment partner of Mozambique, with bilateral trade in 2014-15 reaching almost USD 2.4 billion.
The President also acknowledged that use of renewable energy, urban infrastructure, skill development and agrifood could play a key role in business development.
Narendra K Verma, Member CII Africa Committee & Managing Director of ONGC Videsh Ltd. Emphasised that in the last 3-4 years, Mozambique has benefited the most from FDI from India compared to other African Nations.

"Indian investments in Mozambique are presently valued at over USD 7 billion primarily in the hydrocarbon and coal sectors. India is also an important destination for Mozambicans for higher education and high quality healthcare facilities," Verma said.
Besides, an agreement was signed between Assocham and Confederation of Business Associations (CTA), Mozambique to strengthen economic relations between the two countries.
President of CTA Rogerio Manuel said India could stand as a vehicle (gateway) for Mozambique for export to Asian markets.