Mozambique: Italy focuses on Mozambique to re-launch investments in Africa

9 July 2008

Maputo, Mozambique, 9 July – The Italian deputy minister for Economic Development, Adoldo Urso, said Tuesday in Maputo that his country was focusing on Mozambique as a launch pad for its investments in Africa and committed to helping the country fight poverty.

Urso noted the priority that Italy was giving Mozambique in terms of business investment and development aid, whilst speaking at a seminar on, “Opportunities and Prospects for Investment in Mozambique,” which brought togetehr businesspeople from both Italy and Mozambique.

The Italian minister noted the agri-processing, tourism, energy, agri-industry, manufacturing, transport and other industries, as being those of greatest interest to Italian investors.

Speaking specifically on agriculture, Urso said that Italian companies’ participation in this sector could help increase production and exploration areas, which currently cover less than 10 percent of arable land.

For this, Italy has the benefit of being the biggest European exporter of farming equipment and the second largest in the world, after the USA, Urso said.

Urso said that his goevrnment was encouraging the Italian business community to invest in Mozambique, with a view to entering other markets in Africa.

In his turn, Mozambique’s minister for Industry and Trade, António Fernando, set out various business opportuniteis that hsi country can offer.

The minister noted industry, agriculture and energy (biofuels) as the sectors that needed the biggest investments. (macauhub)