Mozambique, Namibia call Indian firms

Mozambique and Namibia have invited Indian companies to invest and bring their technological expertise in sectors such as leather, textile and garments, food processing, chemicals, construction materials, drug and pharmaceuticals.

A release from CII southern region quoted Mohd Tahir Jamhari, national project coordinator, Asia-Africa Investment and Technology Promotion Centre (AAITPC), as saying, "To attract more investments, Mozambique offers incentives like duty-free import on equipment, fiscal credit on investment from 5 per cent to 20 per cent and reduction on real property transfer tax."

Jamhari said to bring in investments in the export promotion zones (EPZs), Mozambique also offers duty-free import of goods, about 60 per cent reduction in corporate tax and exemption of value added tax (VAT) as incentives for Indian companies to set up units and joint ventures.

The objective of AAITPC is to promote private sector investment and technology transfer flows from Asia to Africa in the context of South-South cooperation.

Their current visit to India was to give a first hand information and opportunities available in African countries, especially Mozambique and Namibia.

Katuamba Jakova, commercial counsellor, Namibia, in his presentation said investment opportunities are available in crop production, food processing, horticulture and local processing of livestock and ostrich farming.

Investments in Namibia can be made in sectors like textiles, finished leather goods, ceramics, glassware, automotive components for tapping the domestic and international markets.

He said the Namibian government offers exemptions on corporate tax, stamp and transfer duty and VAT for investments in their EPZs.