Bank director praises Mozambican government for attracting investments

20 April 2007

Maputo, Mozambique, 20 April – The investment director of bank Millenium BIM, Eduardo Cassola, Thursday praised the Mozambican government for its efforts to attract investments, which made the country attractive for business.

“there were several ingredients that led to BIM setting up in the country, but we have to emphasize the string efforts made by the government to create a good business climate,” Cassola noted at a meeting between businesspeople from the Community of Portuguese-speaking Countries (CPLP) and from China.

the removal of bureaucratic obstacles and the implementation of a realistic tax policy made Mozambique one of the main destinations for foreign investment in Africa, said the director from Millenium BIM, which is majority owned by Portugal’s Millenium BCP bank.

“The authorities have been and continue to be vigilant about the concerns of investors , when there are obstacles, there is willingness to remove them,” Cassola noted.

The positive environment that Millenium BIM found in Mozambique allowed the bank to reach a leadership position of the Mozambican financial market, with a current market share of around 40 percent, Cassola said.

Gao Xunxi, a representative of construction company China Languang Group Company Limited also talked about factors that could attract Chinese investment to Mozambique, noting that the “enormous development challenges facing this country should be seen as business opportunities.”

“We are here to stay, because there are business opportunities in all areas, particularly in construction, where Chinese companies are involved in large projects and have taught a lot to Mozambicans,” said Xunxi. (macauhub)