Mozambique: Macau businessman calls for Mozambican business reciprocity

26 March 2009

Maputo, Mozambique, 26 March – The chairman of the association of Small and Medium-sized Enterprises of Macau, Stanley Au Chong Kit, Wednesday in Maputo called for reciprocity in business investments with Mozambique, noting that China also has business opportunities for Mozambican businesspeople.

Stanley Au, who is also the principal shareholder of Banco Delta Ásia of Macau, noted the “window of business opportunities” that the Special Administrative Region of Macau and China represented, when speaking at a meeting between a group of Chinese and Mozambican businesspeople, as part of a business mission by China to Mozambique, which has been running since Monday.

“Business exchange between China and Mozambique could and should be both ways: A flow of Chinese investment in Mozambique and another flow of investments by Mozambican businesspeople in China,” said Kit.

According to Kit, Mozambican businesspeople should take advantage of the economic and commercial relationship between Mozambique and China, based on the numerous economic cooperation deals signed between the two countries.

Opening up the Chinese market to Mozambican and African businesspeople, in general, will be a way of correcting the imbalance of the balance of trade between the two countries, which has been favourable to China, Kit noted.

Speaking at the meeting, Nuno Maposse, a project manager from teh Mozambican Centre for Investment Promotion (CPI), which is promoting the visit by the Chinese mission, prefferred to noted, “the enormous potential and incentives for investment that is as yet unexplored in Mozambique.”

“Mozambique has comparative advantages in attracting investments, such as security and protection of property rights, flexibility in repatriation of capital and dividends and a legal Framework for investment conflict arbitration,” said Maposse.

Mining resources, the hydroelectric sector and agriculture are areas that offer “great” business opportunities to Chinese businesspeople in Mozambique, said the CPI Project manager.

The Chinese delegation is due Thursday to travel to Luanda and also plans to travel to Portugal on Saturday.

On Friday in Luanda the mission is due to meet with the Intergovernmental China-Angola Bilateral Commission to analyse bilateral cooperation in various sectors and outline future activities for 2009-2010.

A statement from the Angolan Foreign Affairs Ministry also said that the 4th session of the Commission will be presided over by Angola Deputy Foreign Affairs Minister, Exalgina Gamboa and the Chinese side will be led by Chinese Deputy Trade Minister, Juang Zengwei.

The statement added that during its brief stay in Luanda the Chinese delegation would visit some Chinese projects underway in Angola. (macauhub)