In a move to create conducive business environment between two nations, Mozambique has invited Indian businesses counterparts to invest in the Southern African nation through public-private-partnership (PPP) model and in individual capacities as well. The country wants India to promote in the sectors such as agriculture, technology and infrastructure to deepen economic ties between the two countries.
“We would like to renew our invitation to Indian investors to invest in Mozambique through public-private-partnerships (PPPs) and in individual capacities as well. 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 on Wednesday.
"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 added. 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.
India is a large trading and investment partner of Mozambique, with bilateral trade in 2014-15 reaching almost $2.4 billion. The President also acknowledged that use of renewable energy, urban infrastructure, skill development and agri-food 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.