Portugal’s export promotion institute to open business center in Maputo

1 December 2005

Maputo, Mozambique, 01 Dec – Icep Portugal, the Portuguese institute for promoting exports, will open a business center in Mozambique’s capital, Maputo, in order to provide support for companies that want to set up in the country, Icep’s president has said.

João Marques da Cruz, speaking to Portuguese business newspaper Jornal de Negócios, added that the center would work as an “incubator” for companies and would be the first office for companies that want to set up in Maputo, providing free office space as well as consultancy in several areas and logistic support.

This year, Icep has organized four business missions to Mozambique the result of which was the creation of investment projects in the sector of construction materials and information technologies, which are currently being analyzed by Mozambique’s Center for Promotion of Investments.

Portugal is currently the third largest foreign investor in Mozambique, behind South Africa and Australia.

Portugal’s main asset in Mozambique is the Cahora Bassa hydroelectric dam, Mozambique’s largest company, which is still controlled by the Portuguese state although agreement ahs been reached to transfer the company to Mozambique.

Portugal’s other interests in the East African country include the banking, navigation, construction, agriculture and animal husbandry, and food distribution.

The Maputo business center is one of five that Icep plans to open all over the world within the next year, increasing the number of units to 12.

Icep is currently setting up a business center in Beijing, which is expected to be opened in the first quarter of 2006, Marques Cruz has said recently.

The next business center to be launched will be in Moscow, and other are being prepared for Poland, the Czech Republic and Hungary.(macauhub)