Maputo, Mozambique, 17 Aug – Funds available for construction of the new venue for the Maputo International Fair are far below what the project is expected to cost, the chairman of the Export Promotion Institute (Ipex) said Monday in Maputo.
Cited by newspaper Notícia, João Macaringue said that of the US$44 million needed to build the new venue and support facilities just US$11 million were available, as a result of the sale of the land of the current venue.
Macaringue noted that the initial plan had been to build a multi-purpose pavilion and car parks but that, as it was believed it would not be sustainable for businesspeople to travel to the location to exhibit their products and to return to the city every day, a decision was made to redesign the project to include hotels and other facilities.
“The state does not have the financial resources for the development of those facilities and thus the private sector was asked to invest in the project,” Macaringue said without giving a projection for the launch of work at Marracuene, which were due to have been started a few years ago.
Speaking specifically about this year’s edition of the Maputo international Fair, to be held between 30 August and 5 September, Macaringue confirmed that by Monday 14 countries and 31 foreign companies had signed up along with 201 national companies.
Amongst the countries or territories that have confirmed their participation are Italy, Portugal, Spain, Brazil, South Africa, Tanzania, Macau, Zambia, Zimbabwe, Kenya, Malawi, Botswana, Indonesia and Swaziland.
As usual, Portugal will occupy most of the area at the fair, with 864 metres, followed by South Africa and Italy, with 457 square metres and 360 square metres, respectively. (macauhub)