Investment in Special economic area of Nacala in Mozambique totals US$80 million

10 September 2009

Nacala, Mozambique, 10 Sept – Around US$80 million are being invested in the Nacala special economic area, in Nampula province on a number of projects linked to industry, fuel production, agriculture and tourism, according to Mozambican newspaper Notícias.

The Minister for Planning and Development, Aiuba Cuereneia, who was speaking during the handover of certificates to five companies that operate in the Special Economic Zone (ZEE), which includes the districts of Nacala and Nacala-a-Velha said that since the beginning of the year 3,000 jobs had been created.

The companies covered by the certificates, which operate in the special economic areas, are CINAC – Cimentos de Nacala, Simba Steel and Damodar Ferro with investments in mining and transforming iron ore, AVIAM with interests in agriculture and Nacala Fishing Charters, operating in the tourism sector.

The five companies will now benefit from special tax exemptions so that they can “promote the quality of their products, putting them on an equal footing with those placed on the market by operators from countries in the region.”

Cuereneia said that the model of the special economic area adopted by the Government was the result of several experiences gathered from countries in Asia and Latin America, which have seen positive results for their respective economies.

“We thus plan that our model, which is adapted to our reality, be a complement to the efforts that the Government has been making to attract national and foreign investments that could lead to the creation of industrial park and commercial hub that we believe Nacal could become in the short term,” he said. (macauhub)