Mozambican market attracts growing number of Brazilian companies

3 September 2007

Maputo, Mozambique, 3 Sept – Some of Brazil’s main companies, including oil company Petrobras and mining company Vale do Rio Doce (CVRD), as well as a number of small companies, have begun investing or increased their presence in Mozambique over the last few years.

Brazil, which Mozambican president, Armando Guebuza, will be visiting for three days beginning Tuesday, will also cooperate on the construction of a anti-viral drugs factory in Mozambique, for treating people with HIV/AIDS. This project was approved just last week by the Mozambican authorities.

According to Russel Dowding, respondible for promoting Brazilian companies in African markets, the activity of companies from Brazil in Mozambique, ïs increasingly excellent every year.

The presence of Brazilian companies in the Mozambique market, which was incipient until a few years ago, was particularly felt when in June of this year CVRD was granted the concession for coal mining in Moatize, an area of Mozambique with estimated reserves of 2.5 billion tons of coal.

More recently, Brazilian oil company Petrobras showed the Mozambican authorities its interest in investing in oil and biofuels in Mozambique.

Brazilian state agriculture and farming body Empresa Brasileira de Pesquisa Agropecuária (Embrapa) which is linked to the Ministry of Agriculture, is due to set up an office for technology transfer in Maputo. (macauhub)